Procter & Gamble (P&G) is one of the largest consumer products companies in the world, famous for such brands as Crest? and Tide?. Financial information for the company for three recent years is as follows:

(a) Determine the earnings per share for fiscal years 2007, 2006, and 2005.(b) Evaluate the growth in earnings per share for the three years in comparison to the growth in net income for the threeyears.

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Fiscal Years Ended (in millions) 2006 2007 2005 Net income Preferred dividends Common shares outstanding $10,340 $6,923 $136 2,515 $8,684 $148 3,055 $161 3,159