000 SHARES OF $100 PAR VALUE, NON-CUMULATIVE, 6% PREFERRED STOCK AN...

10,000 shares of $100 par value, non-cumulative, 6% preferred stock and 100,000 shares

of $10 par value common stock outstanding. There were also 5,000 shares of common

stock in treasury during the year. Collins declared and paid all preferred dividends as

well as a $1 per share dividend on common stock. Collins’ earnings per share of

common stock for the year was

a.

$3.50.

b.

$3.33.

c.

$2.90.

d.

$2.76.