TGT Stores had the following during the current year: - 50,000 shares of $10 par value common stock outstanding on January 1 and 150,000 shares of $10 par value common stock outstanding on December 31 - 3,500 shares of $100 par value, 10% preferred stock outstanding Net income for the current year was $480,000. Earnings per share was: $8.90 $3.20 $4.80 $4.45