Use the following information for Equitable, Inc. to answer the following questi

Question

Use the following information for Equitable, Inc. to answer the following question(s). Equitable issued no new common stock and had 100,000 common shares issued and outstanding during 2011. Equitable has no preferred stock. Net income for the year ended, December 31, 2011$370,000 Retained earnings, December 31, 2010$280,000 Retained earnings, December 31, 2011$360,000 Total shareholders' equity at December 31, 2011$725,000 Total liabilities at December 31, 2010$105,000 Total liabilities at December 31, 2011$385,000 Total assets at December 31, 2010$750,000 What was earnings per share for the year ended December 31, 2011 $0.51 $370,000 $7.50 $3.70

Explanation / Answer

D : $3.70

EXPLANATION:
Earnings per Share = Net Income / No. of Shares issued
= 370000/100000
= 3.70

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