Solints] Shadow Corporation reported net income for 201 of $355,000. Shadow began the year with 100,000 shares of $5 par value common shares outstanding and 2,500 shares of $100 par value 8% preferred shares outstanding ($40,000 in preferred dividends were paid to preferred shareholders on these shares in 20X1). On October 1, Shadow sold 10,000 shares of common stock for $6 per share. Shadow paid dividends to the common shareholders in December. The basic earnings per share for 201 is: A) $2.86 per share. B) $1.54 per share. C) $3.07 per share. D) $3.46 per share