At December 31, 2021 and 2020, P Co. had 63,000 shares of common stock and 6,300 shares of 5%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2021 or 2020. Net income for 2021 was $695,000.
For 2021, basic earnings per common share amounted to $. (Round your answer to 2 decimal places.)

Consider two cigarette companies, pm inc. and brown inc. if neither company advertises, the two companies split the market and earn $50 million each. if they both advertise, they again split the market, but profits are lower by $10 million since each company must bear the cost of advertising. yet if one company advertises while the other does not, the one that advertises attracts customers from the other. in this case, the company that advertises earns $60 million while the company that does not advertise earns only $30 million. if these two companies collude and agree upon the best joint strategy, a. neither company will advertise. b. both companies will advertise. c. pm inc. will advertise but brown inc. will not. d. brown inc. will advertise but pm inc. will not.