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What should be Sheridan earnings per common share

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Question - Sheridan Company had 303000 shares of common stock issued and outstanding at December 31, 2020. No common stock was issued during 2021. On January 1, 2021, Sheridan issued 195000 shares of nonconvertible preferred stock. During 2021, Sheridan declared and paid $103000 cash dividends on the common stock and $84000 on the preferred stock. Net income for the year ended December 31, 2021 was $611000. What should be Sheridan's 2021 earnings per common share?

a. $2.02

b. $1.74

c. $1.40

d. 1.68

Reference no: EM132637202

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