Problem 2-17 Earnings per share and retained earnings [LO1, 3]

Quantum Technology had $640,000 of retained earnings on December 31, 2010. The company paid common dividends of $30,000 in 2010 and had retained earnings of $500,000 on December 31, 2009.

(a)	How much did Quantum Technology earn during 2010? (Omit the "$" sign in your response.)

Earnings available to common stockholders

$

(b)	What would earnings per share be if 40,000 shares of common stock were outstanding? (Round your answer to 2 decimal places. Omit the "$" sign in your response.)

Earnings per share

$