a$)$ Consider the balance$-$sheet entries for War$-$Eagle Corporation in Table P$2\mathrm{.}1.$ Find the firm's:

current assets

current liabilities

working capital

shareholders equity

b$)$ If the firm had a net income of $$500,000$ after taxes, what were the earnings per share?

Table P$2\mathrm{.}1$

Assets

Cash $$150,000$

Marketable securities $200,000$

Accounts receivable $150,000$

Inventories $50,000$

Prepaid taxes and insurance $30,000$

Manufacturing plant at cost $$600,000$

Less accumulated depreciation $100,000$

Net fixed assets $500,000$

Goodwill $20,000$

Liabilities and Shareholders' Equity

Notes payable $50,000$

Accounts payable $100,000$

Income taxes payable $80,000$

Long$-$term mortgage bonds $400,000$

Preferred stock, $6\%,$ $$100$ par value $(1,000$ shares$)100,000$

Common stock, $$15$ par value $(10,000$ shares$)150,000$

Capital surplus $150,000$

Retained earnings $70,000$