The net income of Foster Furniture, Inc., amounted to $1,600,000 for the current year. a. Compute the amount of earnings per share assuming that the shares of capital stock outstanding throughout the year consisted of: (Round your answers to 2 decimal places.) 1. 400,000 shares of $1 par value common stock and no preferred stock. 2. 100,000 shares of 8 percent, $100 par value preferred stock and 300,000 shares of $5 par value common stock.