1. The White River Wood Company is preparing it's year-end and you have been assigned the responsibility to calculate the Earnings Per Share (EPS) for the year.

   The Chief Accountant has provided you with the following information:

   The net profit of the company was $75,000.

   White River Wood Company has 25,000 preferred shares outstanding with a $2.00 non-cumulative dividend rate.

   The weighted average number of shares outstanding for the year is 20,000.

   Choices A 1.25 B 4.25 C 3.75 D 3.00 E 1.00