A Company Reports the Following The Company's Earnings Per Share on Common Stock Is
A)

Multiple Choice

A company reports the following: $$\begin{array} { l r } \text { Net income } & \$ 160,000 \\\text { Preferred dividends } & \$ 10,000 \\\text { Shares of common stock outstanding } & 20,000 \\\text { Market price per share of common stock } & \$ 35\end{array}$$
The company's earnings per share on common stock is

A) $13.33
B) $8.50
C) $7.50
D) $35.00