Altar Loan Company’s balance sheet at December 31, 2018, reports the following:

During 2018, Altar Loan earned net income of $6,200,000. Calculate Altar Loan’s earnings per common share (EPS) for 2018; round EPS to two decimal places. Assume the number of shares issued and outstanding did not change during the year.

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Preferred stock, $100 par value, 6%, 9,000 shares issued . Common stock, $0.75 par, 900,000 shares issued.. Treasury stock, common, 70,000 shares at cost. $ 900,000 . 675,000 630,000