At December 31, 2004 and 2003, Glass Corp. had 120,000 shares of common stock and 10,000 shares of 5%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2004 or 2003. Net income for 2004 was $400,000. For 2004, earnings per common share amounted to:
a. $3.33.
b. $2.92.
c. $2.50.
d. $1.67.