Elite Trailer has an operating profit or $250,000. Interest expense for the year was $32,000; preferred dividends paid were $32,700; and common dividends paid were $38,300. The tax was $63,500. The firm has 24,100 shares of common stock outstanding.
a. Calculate the earnings per share and the common dividends per share for Elite Trailer.
b. What was the increase in retained earnings for the year?