At December 31,2013,MNO Had 50,000 Common Shares Issued and Outstanding

At December 31,2013,MNO had 50,000 common shares issued and outstanding.On April 1,2014,an additional 10,000 common shares were issued.MNO's net income for the year ended December 31,2014,was $1,035,000.During 2014,MNO declared and paid $600,000 cash dividends on its nonconvertible preferred shares (the full year's requirement) .The earnings per common share,rounded to the nearest cent,for the year ended December 31,2014,should be:

A) $7.57.
B) $7.92.
C) $18.00.
D) $18.84.

Correct Answer:

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