Sperle Corporation has provided the following data concerning its stockholders' equity accounts: Year 2Year 1Stockholders' equity: Common stock, $5 par value$400,000 $400,000 Additional paid-in capital 60,000 60,000 Retained earnings 654,000 630,000 Total stockholders' equity$ 1,114,000 $ 1,090,000 Net income for Year 2 was $30,400. Dividends on common stock during Year 2 totaled $6,400. The market price of common stock at the end of Year 2 was $3.08 per share.The company's earnings per share for Year 2 is closest to:
A. $0.68 per share
B. $0.54 per share
C. $8.18 per share
D. $0.38 per share
Answer: D
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