E7-5 The ledger of Jean Sartre Corporation at December 31, 2008, contains the following summary information.
| Administrative expenses | 116,000 | Other Expenses and losses | 34,700 |
| cost of goods sold | 409,200 | Other revenues and gains | 17,500 |
| Net sales | 696,000 | Selling expenses | 98,600 |
The income tax rate for all items is 30%. Sartre Corp. had 10,000 shares of common stock outstanding throughout the year, and the company paid $15,000 in dividends during 2008.
Instructions
Compute earnings per share for 2008.
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