The net income reported on the income statement of Ground Hog Co. was $1,250,000. There were 250,000 shares of $40 par common stock and 50,000 shares of $10 preferred stock out standing throughout the current year. The income statement included two extraordinary items: a $360,000 gain from condemnation of landand a $235,000 loss arising from flood damage, both after applicable income tax.
Determine the per share figures for common stock for (a) income before extraordinary items and (b) net income.