How do I solve the bottom portion? I cant seem to get it right since the answer is not 2.81

Your answer is partially correct. Try again. At December 31, 2017, Millwood Corporation has 2,450 shares of $103 par value, 8%, preferred stock outstanding and 100,000 shares of$15 par vabe common stock Millwood's net income for the year is $242,500. Compute the earnings per share of common stock under the following independent situations. (Round answers to 2 decimal places, e.g. 10.50.) (a) The dividend to preferred stockholders was decdlared. There has been no change in the number of shares of common stock outstanding during the year. (b) The dividend to preferred stockholders was not declared. The preferred stock is cumulative. Millwood held 14,000 shares of common treasury stock throughout the year (a) Earnings per share of common stock 2.223 (b) Earnings per share of common stock 12