What basic earnings per common share amounted to, Accounting Basics

What basic earnings per common share amounted to

Question: At December 31, 2024 and 2023, Violette Company had 69,000 shares of common stock and 6,900 shares of 5%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2024 or 2023. Net income for 2024 was $785,000. For 2024, basic earnings per common share amounted to:

Note: Round your answer to 2 decimal places.

Multiple Choices

$5.00.
$10.88.
$10.83.
$10.00.

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