Using the Following Balance Sheet and Income Statement Data, What

question 179

Multiple Choice

Using the following balance sheet and income statement data, what is the earnings per share? $$\begin{array} { l c l l } \text { Current assets } & \$ 32,000 & \text { Net income } & \$ 42,000 \\\text { Current liabilities } & 16,000 & \text { Stockholders' equity } & 78,000 \\\text { Average assets } & 160,000 & \text { Total liabilities } & 42,000 \\\text { Total assets } & 120,000 & & \\\text { Average common shares outstanding was } 15,000 .\end{array}$$

• A)$5.20
• B)$8.00
• C)$2.80
• D)$0.36