Bank of America Corporation (BAC) and Wells Fargo & Company (WFC) are two large financial services companies. The following data (in millions) were taken from a recent year€™s financial statements for both companies:

a. Compute the earnings per share for both companies. Round to the nearest cent.
b. Which company appears to be more profitable on an earnings-per share basis?
c. Which company would you expect to have the larger quoted market price?

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Bank of America Wells Fargo $ 21,938 $1,565 5,052.8 Net income Preferred dividends Average number of common shares outstanding $17,906 $1,662 10,284