Questions:
Earnings per share and retained earnings
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.
(a) How much did Quantum Technology earn during 2010? (Omit the "tiny_mce_markerquot; sign in your response.)
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 "tiny_mce_markerquot; sign in your response.)