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Cornerstones of Financial Accounting

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 99.2C

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Earnings per share
Financial statement data for the years 20Y5 and 20Y6 for Black Bull Inc. follow:
20Υ5
20Y6
Net income
$1,688,000
$2,459,000
Preferred dividends
$50,000
$50,000
Average number of common shares outstanding
90,000 shares
110,000 shares
a. Determine the earnings per share for 20Y5 and 20Y6. Round to two decimal places.
20Y5
20Υ6
Earnings per Share
b. Is the change in the earnings per share from 20Y5 to 20Y6 favorable or unfavorable?
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