What are the earnings per share for Johnson Alarm Systems?
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Johnson alarm systems had $800,000 of retained earnings on December 31, 2004. The company paid dividends of $60,000 in 2004 and had retained earnings of $640,000 on December 31, 2003. How much did Johnson earn during 2004, and what would earnings per share be if 50,000 shares of common stock were outstanding?
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Net Income = ...
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