ERS, Inc., maintains and repairs office equipment. ERS had an average of 10,000 shares of common stock outstanding for the year. The following income statement account balances are available for ERS at the end of 2009.

Advertising expense ................$ 24,200

Depreciation expense on service van ........... 17,500

Income taxes expense (30% of income before taxes) .... 15,150

Interest expense ................... 10,900

Rent expense on building ..............$ 58,400

Rent expense on office equipment ............ 11,900

Salaries expense for administrative personnel ....... 202,100

Service revenue .................. 928,800

Supplies expense ................... 66,400

Wages expense for service support staff ......... 38,600

Wages expense for service technicians ......... 448,300

Required:

1. Prepare a single-step income statement for ERS for 2009.

2. Compute earnings per share for ERS. Comment on ERS’s profitability.