Selected Items from the Financial Statements for Lorna Company Are

Multiple Choice

Selected items from the financial statements for Lorna Company are listed below:
$\begin{array} { l } \text { Paid in capital, December 31,2014}&\$100,000\\ \text {Retained earnings, December 31, 2014 }&\$75,000\\ \text {Commonstock dividends declared in 2014 }&\$75,000\\\text { Net income for the year ended December } 31,2014&\$100,000\\\end{array}$

Lorna Company has 5,000 common shares outstanding during the year.What are the earnings per share for the year ended December 31,2014?

A) $12.00
B) $15.00
C) $20.00
D) $25.00