The balance sheets at the end of each of the first two years of operations indicate the following: 2018 2017 $600,000 60,000 Total current assets Total investments Total property, plant, and equipment Total current liabilities Total long-term liabilities Preferred 9% stock, $100 par Common stock, $10 par Paid-in capital in excess of par--common stock Retained earnings 900,000 125,000 350,000 $560,000 40,000 700,000 80,000 250,000 100,000 600,000 60,000 100,000 600,000 60,000 325,000 210,000 Based on the above information, if net income is $130,000 and interest expense is $40,000 for 20Y8, what are the earnings per share on common stock for 20Y8 (round to two decimal places)? a. $2.17 b. $2.68 C. $2.32 d. $2.02 When choosing whether or not to replace an equipment, the analysis normally focuses on the costs of continuing to use the old equipment versus replacing the equipment. True False