The net income reported on the income statement of Cutler Co. was $4,000,000. There were 500,000 shares of $10 par common stock and 100,000 shares of $2 preferred stock outstanding throughout the current year. The income statement included a gain on discontinued operations of $400,000 after applicable income tax. Required:
a. Determine the per-share figure for common stock for income before discontinued operations.
b. Determine the per-share figure for common stock for net income.