(Computing earnings per share) If ABC Company earned $280,000 in net income and paid cash dividends of $40,000, what are ABCs earnings per share if it has 80,000 shares outstanding?

3-5. (Working with an income statement and balance sheet) prepare a balance sheet and income statement for Belmond, Inc. from the following information.

Inventory $6,500

Common stock 45,000

Cash 16,550

Operating expenses 1,350

Short-term notes payable 600

Interest expense 900

Depreciation expense 500

Sales 12,800

Accounts receivable 9,600

Accounts payable 4,800

Long-term debt 55,000

Cost of goods sold 5,750

Buildings and equipment 122,000

Accumulated depreciation 34,000

Taxes 1,440

General and administrative expenses 850

Retained earnings ?