Leckbee Corporation's Net Income for the Most Recent Year Was

Essay

Leckbee Corporation's net income for the most recent year was $3,270,000. A total of 500,000 shares of common stock and 200,000 shares of preferred stock were outstanding throughout the year. Dividends on common stock were $2.70 per share and dividends on preferred stock were $1.10 per share.
Required:
Compute the earnings per share of common stock. Show your work!