Problem 2 17 Earnings per share and retained earnings [LO1, 3]
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Quantum Technology had $640,000 of retained earnings on December 31, 2010. The company paid common dividends of $30,000 in 2010 and had retained earnings of $500,000 on December 31, 2009.
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| (a) |
How much did Quantum Technology earn during 2010? (Omit the “$” sign in your response.)
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| Earnings available to common stockholders |
$ |
| (b) |
What would earnings per share be if 40,000 shares of common stock were outstanding? (Round your answer to 2 decimal places. Omit the “$” sign in your response.)
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