Clair, inc. reports net income of $700,000. it declares and pays dividends of $100,000 for the year, one-half of which relate to the preferred shares. the weighted-average number of common shares outstanding during the year is 200,000 shares, and the weighted-average number of preferred shares outstanding during the year is 10,000 shares. earnings per share for clair, inc. is (round your answer to the nearest cent): (lo 4)
(a) $3.18.
(b) $3.25.
(c) $3.30.
(d) $2.95.