[See Steps] (Income statement) If the Mayfield Steel Fabrication Company earned $500,000 in net income and paid a cash dividend of $300,000 to its stockholders,
Question: (Income statement) If the Mayfield Steel Fabrication Company earned $500,000 in net income and paid a cash dividend of $300,000 to its stockholders, what are the firm’s earnings per share if the firm has 100,000 shares of stock outstanding?
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