Lew Company's net income was $80,000 last year.The company has 20,000 shares of common stock and 5,000 shares of $100 par value,7 percent preferred stock outstanding.There was no change in the number of common or preferred shares outstanding during the year.The earnings per share of common stock was
A)$4.00.
B)$3.20.
C)$2.25.
D)$3.72.

Question

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The Answer of Lew Company's net income was $80,000 last year.The company has 20,000 shares of common stock and 5,000 shares of $100 par value,7 percent preferred stock outstanding.There was no change in the number of common or preferred shares outstanding during the year.The earnings per share of common stock was
A)$4.00.
B)$3.20.
C)$2.25.
D)$3.72.

Lew Company's Net Income Was $80,000 Last Year