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 out¬

standing throughout the year, and the company paid $15,000 in dividends during 2008.

Instructions Compute earnings per share for 2008.