5)

Elite Trailer Parks has an operating profit of $224,000. Interest expense for the year was $35,100; preferred dividends paid were $28,900; and common dividends paid were $40,000. The tax was $62,500. The firm has 18,700 shares of common stock outstanding.

a.	Calculate the earnings per share and the common dividends per share for Elite Trailer Parks.(Round your answers to 2 decimal places.)

Earnings per share	$
Common dividends per share	$

b.	What was the increase in retained earnings for the year?

Increase in retained earnings

$