Lunghofer Corporation's net income for the most recent year was $3,189,000.A total of 300,000 shares of common stock and 100,000 shares of preferred stock were outstanding throughout the year.Dividends on common stock were $4.90 per share and dividends on preferred stock were $1.95 per share.
Required:
Compute the earnings per share of common stock.Show your work!

Question

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The Answer of Lunghofer Corporation's net income for the most recent year was $3,189,000.A total of 300,000 shares of common stock and 100,000 shares of preferred stock were outstanding throughout the year.Dividends on common stock were $4.90 per share and dividends on preferred stock were $1.95 per share.
Required:
Compute the earnings per share of common stock.Show your work!

Lunghofer Corporation's Net Income for the Most Recent Year Was