6.Assume the following financial data for the Noble Corporation and Barnes Enterprises:

Noble Corporation	Barnes Enterprises
Total earnings	$1,820,000	$5,620,000
Number of shares of stock outstanding	650,000	2,810,000
Earnings per share	$2.80	$2.00
Price-earnings ratio (P/E)	20	28
Market price per share	$56	$56

a.If all the shares of the Noble Corporation are exchanged for those of Barnes Enterprises on a share-for-share basis, what will postmerger earnings per share be for Barnes Enterprises? Use an approach similar to that inTable 20-3.

b.Explain why the earnings per share of Barnes Enterprises changed.

c.Can we necessarily assume that Barnes Enterprises is better off after the merger?

Please explain answers