Question $7$

Westminster, Inc. has net income of $$185,000.$ At January $1,$ the company had outstanding $54,000$ shares of $25$$ par value common stock and $10,000$ shares of $6\%,50$$ par value cumulative preferred stock. On September $1,$ an additional $18,000$ shares of commom stock were issued. What is the earnings per share $($to the nearest cent$)?$

Select one:

a$.$ $$2\mathrm{.}22$

b$.$ $$2\mathrm{.}05$

c$.$ $$2\mathrm{.}25$

d$.$ None of these

e$.$ $$2\mathrm{.}58$