Based on the most recent year of data, calculate the business's Earnings per Share ratio (include the work for the calculation. Please note, if preferred dividends are not listed, then use only the net income in the numerator. You do not need to use the average of the common shares outstanding. Use only the most recent year of common shares outstanding). Then calculate the Earnings per Share ratio from the previous year (calculated the same way as I noted above). Provide an analysis of what these ratios means for the stockholders of the business and if the business is improving the ratio or not.
2019 2018 2017 2016 201512 $ 8,094 $ 7,658 S 7,012 $ 6,584 $ 6,416 1,899 1,348 1,847 2,320 1.363 1,887 438 1,074 1,698 2,044 1,540 474 462 342 357 393 469 424 345 525 99 104 102 110 122 290 294 271 263 264 619 625 622 563 490 1,106 932 866 749 1,060 435 14 7,392 6,039 (in millions except per share data) STATEMENTS OF OPERATIONS DATA Operating revenues Operating expenses: Aircraft fuel and related taxes Salaries, wages and benefits Landing fees and other rents Depreciation and amortization Aircraft rent Sales and marketing Maintenance, materials and repairs Other operating expenses Special items Total operating expenses Operating income Other income (expense) Income before income taxes Income tax expense (benefityem NET INCOME Earnings per common share: Basic Diluted202144 Other Financial Data: Operating margin Pre-tax margins Net cash provided by operating activities Net cash (used in) investing activities Net cash provided by (used in)financing activities 7.294 800 5,324 1,260 5,200 1,216 266 973 (32) (47) (55) (119) 918 768 199 219 30 (96) 1,164 437 1,097 420 (222) $ 1,140 $ 569 $ 189 $ 727 $ 677 S 1.92 $ 3.47 09 2.23 S 2.15 $ 0.60 $ 0.60 $ 1.91 $ 3.45 $ 2.13 S 1.98 9.9% 3.5% 13.9% 19.1% 9.5% 17.7% 2.9% $ 1,200 (1,157) 131 $ 1,449 (1,129) 19.0% 17.1% $ 1,598 (1,134) 13.1% $ 1,379 (979) (536) $ 1,632 (1,046) (472) 165 (487) 2019 2018 2017 2016 201512 $ 8,094 $ 7,658 S 7,012 $ 6,584 $ 6,416 1,899 1,348 1,847 2,320 1.363 1,887 438 1,074 1,698 2,044 1,540 474 462 342 357 393 469 424 345 525 99 104 102 110 122 290 294 271 263 264 619 625 622 563 490 1,106 932 866 749 1,060 435 14 7,392 6,039 (in millions except per share data) STATEMENTS OF OPERATIONS DATA Operating revenues Operating expenses: Aircraft fuel and related taxes Salaries, wages and benefits Landing fees and other rents Depreciation and amortization Aircraft rent Sales and marketing Maintenance, materials and repairs Other operating expenses Special items Total operating expenses Operating income Other income (expense) Income before income taxes Income tax expense (benefityem NET INCOME Earnings per common share: Basic Diluted202144 Other Financial Data: Operating margin Pre-tax margins Net cash provided by operating activities Net cash (used in) investing activities Net cash provided by (used in)financing activities 7.294 800 5,324 1,260 5,200 1,216 266 973 (32) (47) (55) (119) 918 768 199 219 30 (96) 1,164 437 1,097 420 (222) $ 1,140 $ 569 $ 189 $ 727 $ 677 S 1.92 $ 3.47 09 2.23 S 2.15 $ 0.60 $ 0.60 $ 1.91 $ 3.45 $ 2.13 S 1.98 9.9% 3.5% 13.9% 19.1% 9.5% 17.7% 2.9% $ 1,200 (1,157) 131 $ 1,449 (1,129) 19.0% 17.1% $ 1,598 (1,134) 13.1% $ 1,379 (979) (536) $ 1,632 (1,046) (472) 165 (487)
