You will use the Income Statement that you create for this problem for the next two problems.

In $2016,$ Chesterfield Industries had sales of $$1,200,000.$ The company had operating expenses $($excluding depreciation$)$ of $$540,000,$ depreciation expense of $$82,000$ and interest expense of $$54,000.$ Cost of goods sold was $$280,000$ and the company is subject to a $30\%$ tax rate. The company had $50,000$ shares of common stock outstanding. What is Chesterfield's earnings per share?

$$6\mathrm{.}17$

$$7\mathrm{.}33$

$$170,800$

$$4\mathrm{.}88$

$$3\mathrm{.}42$