The Following Information Pertains to Barnum Company: Balance Sheet $31,20X2$

The following information pertains to Barnum Company: Balance Sheet
At December $31,20X2$
$\begin{array}{llll}\text { Current assets } & \$ 18,700 & \text { Current liabilities } & \$ 7,600 \\\text { Long-term ass ets } & \underline{29,700} & \text { Long- term liabilities } & 13,250 \\& & \text { Stockholders' equity } & \underline{27,550}\\\text { Total as sets } &\$ 48,400& \text { Total liabilities and s.e. }& \$ 48,400\end{array}$
Barnum Company Income Statement
For the Year Ended December $31,20 \times 2$
$\begin{array}{ll}\text { Sales } & \$ 106,950 \\\text { Less: Cost of goods sold } & \underline{(61,800) } \\\text { Gross profit } & \$ 45,150 \\\text { Less: Operating expenses } & \underline{31,700} \\\text { Operating income } & \$ 13,450 \\\text { Less other expenses: interest } & \underline{(1,300) } \\\text { Income before taxes } & \$ 12,150 \\\text { Less: Income tax expense } & \underline{(4,850) } \\\text { Net income } & \$ 7,300\end{array}$ There were 1,000 shares of common stock outstanding with a market value of $75 as of December 31, 20X2. Dividends declared and paid was $5 per share. The earnings per share for 20X2 is:

A) $0.26
B) $106.95
C) $7.30
D) $3.88