1 1. What are the different profit measures on the income statement? What do they mean? 4 5 2. Use the data needed to calculate basic earnings per share: 6 7 Net income 8 Common Dividends 9 Preferred Dividends 10 Gain on sale of stock 11 AverageCommon Shares Outstanding 12 Average Common Shares Authorized 13 Average Common Shares Issued 14 $270,000 $50,000 $70,000 $25,000 100,000 500,000 110,000