The net income (after income tax) of A. L. Gibson Inc. was $25 per common share in
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The net income (after income tax) of A. L. Gibson Inc. was $25 per common share in the latest year and $40 per common share for the preceding year. At the beginning of the latest year, the number of shares outstanding was doubled by a stock split. There were no other changes in the amount of stock outstanding. What were the earnings per share in the preceding year, adjusted for compari¬ son with the latest year?
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Financial Accounting
ISBN: 9780324188035
9th Edition
Authors: Dr Carl S. Warren, Dr James M. Reeve, Philip E. Fess
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