10. From the year-end financial statements of LuLu Limes (LLL) Ltd.:

Common Preferred

Average shareholders equity $1,500,000 $ 120,000

Average number of shares outstanding 100,000 30,000

Dividends paid 50,000 90,000

Additional Data:

Net Income $340,000

Interest expense $22,000

Average Total assets $2,535,000

The EPS for LLL Ltd.is

a) $1.92.

b) $2.00.

c) $2.50.

d) $3.40.

e)None of the above

Answer: