Doonan Corporation has provided the following financial data from its balance sheet and income statement: Year 2Year 1Total assets$1,489,000 $1,440,000 Stockholders' equity:      Common stock, $4 par value$360,000 $360,000 Additional paid-in capital$70,000 $70,000 Retained earnings$570,000 $550,000 Total stockholders' equity$1,000,000 $980,000 Interest expense$15,000    Income taxes (35%)$14,162    Net income$26,300    The market price of common stock at the end of Year 2 was $4.79 per share.The company's earnings per share for Year 2 is closest to:

A. $0.45 per share
B. $0.29 per share
C. $6.33 per share
D. $0.62 per share


Answer: B

Business

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