Presented Below Are Selected Data from the Financial Statements of Wizard

Multiple Choice

Presented below are selected data from the financial statements of Wizard Corp. $\begin{array} {l r r } &\underline { \mathbf { 2 0 1 7 } } & \underline { \mathbf { 2 0 1 6 } } \\ \text {Net income}&\$ 150,000 & \$ 120,000 \\\text {Cash dividends paid on preferred stock}& \$ 15,000 & \$ 15,000 \\\text {Cash dividends paid on common stock}& \$ 42,000 & \$ 38,000 \\\text {Weighted average number of preferred shares outstanding}& 20,000 & 20,000 \\\text {Weighted average number of common shares outstanding}& 105,000 & 95,000\\ \end{array}$ Earnings per share is reported on the 2017 income statement as

A) $1.08
B) $1.20
C) $1.29
D) $1.43