The Heath Corporation reported net income for 2018 of $177,500. Heath 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. On October 1, Heath sold 10,000 shares of common stock for $6 per share. Heath paid dividends to the common shareholders in December.

The basic earnings per share for 2018 is: A) $1.43 Per share B) $1.50 Per share C) $1.54 Per share D) $1.73 Per share