E$11-17($Static$)$ Determining the Effect of a Stock Repurchase on EPS and ROE $[$LO $11-2,$ LO $11-5]$

Swimtech Pools Incorporated $($SPI$)$ reported the following in its financial statements for the quarter ended March $31,2024.$

$$December $31,2023$March $31,2024$Common Stock, $$1$ par, $50,000$ shares issued and outstanding$ $50,000$$ $50,000$Additional Paid$-$In Capital$30,00030,000$Retained Earnings$20,00020,000$Total Stockholders$$ Equity$ $100,000$$ $100,000$

During the quarter ended March $31,$ SPI reported net income of $$5,000$ and declared and paid cash dividends totaling $$5,000.$

Required:

Calculate earnings per share $($EPS$)$ and return on equity $($ROE$)$ for the quarter ended March $31.$

Assume SPI repurchases $10,000$ of its common stock at a price of $$2$ per share on April $1,2024.$ Also assume that during the quarter ended June $30,2024,$ SPI reported net income of $$5,000$ and declared and paid cash dividends totaling $$5,000.$ Calculate earnings per share $($EPS$)$ and return on equity $($ROE$)$ for the quarter ended June $30,2024.$