At December 31, 2016 and 2015, Gow Corp. had 100,000 shares of common stock and 10,000 shares of 5%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the...

At December 31, 2016 and 2015, Gow Corp. had 100,000 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 2016 or 2015. Net income for 2016 was $1,000,000. For 2016, basic earnings per common

share amounted to

a. $ 5.00

b. $ 9.50

c. $ 9.00

d. $10.00