The balance sheets at the end of each of the first two years of operations indicate the following:

Year 2 Year 1

Total current assets $600,000 $560,000

Total investments 60,000 40,000

Total property, plant, and equipment 900,000 700,000

Total current liabilities 125,000 65,000

Total long-term liabilities 350,000 250,000

Preferred 9% stock, $100 par 100,000 100,000

Common stock, $10 par 600,000 600,000

Paid-in capital in excess of parCommon stock 75,000 75,000

Retained earnings 310,000 210,000

If net income is $250,000 and interest expense is $30,000 for Year 2, what are the earnings per share on common stock for Year 2?

a. $4.02

b. $4.16

c. $2.49

d. $4.32