Franklin Company reports $1,875,000 of net income for 2009 and declares $262,500 of cash dividends on its preferred stock for 2009. At the end of 2009, the company had 250,000 weighted-average shares of common stock.
Requirement 1: What amount of net income is available to common stockholders for 2009? (Omit the "tiny_mce_markerquot; sign in your response.) Net income available to common stockholders $
Requirement 2: What is the company's basic EPS for 2009? (Round your answer to 2 decimal places. Omit the "tiny_mce_markerquot; sign in your response.)