Use the Following Information to Complete Questions
Jalisco Ltd -For 2011, the Company's Earnings Per Share Were Closest To

Multiple Choice

Use the following information to complete questions
Jalisco Ltd.is a public company trading on the Toronto Stock Exchange.The company's shares are currently trading for $16.00 per share.Jalisco just released the following information related to its 2011 year-end: $$\begin{array} { l r r } &2011&2010\\\text { Total assets } & \$ 14,500,000 & 13,250,000 \\\text { Total liabilities } & 7,500,000 & 6,750,000 \\\text { Net income } & 762,500 & 555,000 \\\text { Preferred share dividends } & 65,000 & 65,000 \\\text { Average number of common shares outstanding } & 100,000 & 100,000\end{array}$$
-For 2011, the company's earnings per share were closest to:

A) $7.63
B) $6.98
C) $6.50
D) Cannot be calculated with the information provided