A Company Reported Net Income of $6 Million

Multiple Choice

A company reported net income of $6 million.During the year the average number of common shares outstanding was 3 million.The price of a share of common stock at the end of the year was $5.There were 400,000 shares of preferred stock outstanding on average and no dividends were declared and the preferred stock is noncumulative.
-Use the information above to answer the following question.The EPS is approximately:

A) $0.40
B) $1.76.
C) $1.86.
D) $2.00.