Teruya Corporation provided the following relevant information for its fiscal year ending September 30, 2010: 

Sales ……………………………………..............…… $ 1,950,000

Cost of goods sold …………………….......………. 1,231,600

Sales returns ……………………………………...........… 41,000

Depreciation on sales equipment ………………….. 6,500

Sales commissions …………………………........…… 103,000

Sales salaries ……………………………...........……….. 62,300

Administrative salaries ……………………......…….. 98,200

Depreciation on office equipment ………………… 8,500

Bond interest expense ………………………......…… 22,000

Selling expenses ……………………………….........… 168,900

Administrative expense ………………………......… 134,600

Loss on disposal of marine products division …… 80,000

Marine products division operating income …… 100,000

Dividend income ……………………………...........……. 4,000

Entertainment expense …………………….......……. 23,100

Dividends declared on preferred stock ………… 10,000

On October 1, 2009, Teruya’s retained earnings balance was $ 238,790. The tax rate for Teruya Corporation is 20 percent. There are 50,000 shares of common stock outstanding. 

Required: 

A. Prepare a multistep income statement for fiscal 2010. 

B. Calculate the earnings per share for 2010.