Income Statement

Item	Value
Sales	$5,393,283
Cost of Goods Sold	$3,601,064
Gross Profit	$1,792,219
Selling Expense	$227,295
General & Administrative	$826,340
Total Operating Expense	$1,053,635
Operating Profit	$738,584
Less Income Tax (40%)	$295,434
Net Profit	$443,150
Dividends Paid (88,000 shares)	$100,320

Balance Sheet

Asset Name	Asset Value	Liability/Equity Name	Liability/Equity Value
Cash	$236,413	Accounts Payable	$379,970
Accounts Receivable	$462,676	Long-Term Debt	$3,013,049
Inventory	$1,773,792	Total Liabilities	$3,393,019
Plant & Equipment	$5,500,000	Common Stock	$1,444,239
Less Depreciation	$1,100,000	Retained Earnings	$2,035,623
Net Plant & Equipment	$4,400,000	Total Equity	$3,479,862
Total Assets	$6,872,881	Total Liability & Equity	$6,872,881

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QUESTION 6

Use the financial statements above to calculate Earnings per Share (formula: EPS = net profit / shares outstanding).

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Answer