Maverick Company’s 2015 Income Statement

Maverick Company’s 2015 Income Statement:

Sales Revenue $915,000

COGS (444,000)

Selling and Admin. Expenses (289,000)

Interest Expense (150,000)

Net Income $ 32,000

Maverick Company’s Dec 31, 2015 Balance Sheet:

ASSETS LIABILITIES and OWNERS EQUITY

Cash $ 10,000 Accounts Payable$19,000

A/R 42,000 Advance from Customer 10,000

Inventory 85,000 Bonds Payable 61,000

Other Assets 28,000

PP & Equipment 150,000Common Stock 75,000

Acc. Depreciation (65,000) $6.50 Preferred Stock 80,000

============================== Treasury Stock (15,000)

TOTALASSETS $250,000 Retained Earnings 20,000

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TOTAL LIABILITIES and OE $ 250,000

Additional Information:

There are 50,000 shares of Common Stock outstanding on December 31, 2015;

There are 12,000 shares of $7.25 Preferred Stock outstanding on December 31, 2015;

The company held 18,000 shares of Treasury Stock on December 31, 2015;

Question: What was Maverick’s 2015 EPS (Earnings Per Share) ? Show your work.