Which of the following statements is true of earnings per share?

a$.$ A company can maximize its value by maximizing earnings per share.

b$.$ Earnings per share can be maximized by changing from corporation to proprietorship form of organization.

c$.$ Earnings per share is often used as an indication of the firm's potential for generating future cash flows.

d$.$ A high earnings per share in the current period results in lower future risk position of the business.

e$.$ A company must pay tax on the earnings per share.