Question: Please explain the steps to solving this problem. The Fitness Studio, Inc.'s 2018 income statement lists the following income and expenses: EBIT = $777,000, interest

Please explain the steps to solving this problem.

The Fitness Studio, Inc.'s 2018 income statement lists the following income and expenses: EBIT = $777,000, interest expense = $170,000, and taxes = $212,450. The firm has no preferred stock outstanding and 100,000 shares of common stock outstanding.

Calculate the 2018 earnings per share. The answer should be answered to 2 decimal places.

Thank you

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