Problem #2 Capital Consulting Company had 400,000 shares of common stock outstanding on December 31 2017, On that date, there were also 5,000 shares of $100 par, 6% noncumulative preferred stock outstanding. On March 1, 2018, the company's common stock split 3-for-1. On December 15, 2018, a preferred dividend was declared and paid in the amount of $25,000. Net income for 2018 was $3,000,000. Required: Compute basic earnings per share for the year ended December 31, 2018