Question: 3. Quantum Inc. earned $105,000 in 2020 , its first year of operations. Quantum had 6,000 common shares outstanding, and 800,$11, non-cumulative preferred shares outstanding.

3. Quantum Inc. earned $105,000 in 2020 , its first year of operations. Quantum had 6,000 common shares outstanding, and 800,$11, non-cumulative preferred shares outstanding. Calculate the earnings per share, for the common shares, assuming that no dividends had been declared in 2020. (2 marks)

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