Ringgold Corporation has outstanding at December 31, 2017, 50,000 shares of $20 par value, cumulative, 6% preferred stock and 200,000 shares of $5 par value common stock. All shares were outstanding the entire year. During 2017, Ringgold earned total revenues of $2,000,000 and incurred total expenses (except income taxes) of $1,300,000. Ringgolds income tax rate is 30%.

a)Calculate Ringgolds 2017 net income.

b)Caculate Ringgolds 2017 preferred dividends.

c)Compute Ringgolds 2017 earnings per share.