Question 1 Ellis Corporation had net income of $500,000 and paid dividends of $100,000 to common stockholders and $20,000 to preferred stockholders in 2017. Elis Corporation's common stockholders' equity at the beginning and end of 2017 was $1,740,000 and $2,260,000, respectively. There are 400,000 weighted-average shares of common stock outstanding. Ellis Corporation's earnings per share for 2017 was $1.25. $6.20. O$5.00 $1.20