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  3. a company had $200,000 of net income during the ye

A company had $200,000 of net income during the year. Its dividend requirements for preferred...

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Accounting

A company had $200,000 of net income during the year. Its dividend requirements for preferred stock were $25,000. Outstanding numbers for common stock were 200,000 at the beginning of the year, which increased to 250,000 at the end of the year as a result of selling additional stock at the halfway point during the year. What was the amount of the company's earnings per share (on common stock) for the year, rounded to the nearest whole cent?
Multiple choice question.
$0.78
$0.88
$0.89
$0.70

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