At December 31, 2013 and 2012, G Co. had 50,000 shares of common stock and 5,000 shares of 5%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2013 or 2012. Net income for 2013 was $500,000. For 2013, basic earnings per common share amounted to:

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The Answer of At December 31, 2013 and 2012, G Co. had 50,000 shares of common stock and 5,000 shares of 5%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2013 or 2012. Net income for 2013 was $500,000. For 2013, basic earnings per common share amounted to: