XYZ Corporation has the following information for the year ended December 31:

• Sales revenue: $500,000
• Cost of goods sold: $300,000
• Operating expenses: $100,000
• Other income: $20,000
• Other expenses: $10,000
• Tax rate: 30%

Calculate the following for XYZ Corporation: a) Net income b) Earnings per share (assuming 10,000 shares outstanding)