David and Douglas invested $500 each to capitalize Finns€™ Fridges. To allow for future flexibility (such as selling shares to other investors), they placed a €œpar value€ of $10 on each share; thus each brother owns 50 shares. Based on the net income figure from Practice Problem 23, assuming no tax, what were the earnings per share (EPS) of Finns€™ Fridges for its first year of operations?
Twin brothers David and Douglas Finn started a small business from their college dormitory room. Finns€™ Fridges purchased several small refrigerators to rent to other students for use in their rooms. At the end of their first year of operations, the brothers€™ records showed the informationbelow.

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Current assets (cash and accounts receivable) Interest payable Other current liabilities Property and equipment (net) Long-term liabilities Owners' equity Revenues Interest expense Amortization expense $2,000 200 800 4,000 3,200 1,800 2,000 200 1,000