Question 8 At December 31, 2016 and 2015, Gow Corp. had 100,000 shares of common stock and 10,000 shares of 5%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2016 or 2015. Net income for 2016 was $1,000,000. For 2016, basic earnings per common share amounted to a. $ 5.00 b. $ 9.50 c. $ 9.00 d. $10.00 want typed answer please