Response to the following problem:
The net income reported on the income statement of Bellach Co. was $4,100,000. There were 250,000 shares of $40 par common stock and 60,000 shares of $3 preferred stock par value $100 outstanding throughout the current year. The income statement included two extraordinary items: a $600,000 gain from condemnation of land and a $150,000 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.