Question
Assume the following financial data for the Noble Corporation and Barnes Enterprises: Noble Corporation Barnes Enterprises Total earnings $2,025,000 $8,100,000 Number of shares of
Assume the following financial data for the Noble Corporation and Barnes Enterprises: Noble Corporation Barnes Enterprises Total earnings $2,025,000 $8,100,000 Number of shares of stock outstanding 810,000 4,050,000 Earnings per share $ Price-earnings ratio (P/E) 2.50 24 $ 2.00 30 Market price per share 60 $ 60 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? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Postmerger earnings per share
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