Pearson Corporation has 1,000,000 shares of common stock authorized, 60,000 shares common stock issued, and 50,000 shares of common stock outstanding. It also has 90,000 of $100 par value, 4 percent preferred stock authorized, and 10,000 shares of preferred stock issued and outstanding. 

Determine the earnings per share for common stock for 2019 if net income is $350,000.