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uestion 5 0.5 points Save Answer On December 31, 2019, the Gulf Company had 240,000 shares of common stock issued and outstanding. On October 1, 2020, an additional 48,000 shares of common stock were issued. Gulfs net income for the year ended December 31, 2020, was $980,000. During 2020, Gulf declared and paid $359,000 in cash dividends on its nonconvertible preferred stock. The basic earnings per common share, rounded to the nearest cent, for the year ended December 31, 2020, should be O A. 3.88 O B.2.46 O C. 1.92 OD.2.25 Moving to another question will save this response.