Both

outstanding. On January 1, 20X2, the firm issued 120,000 new shares. Because of the proceeds from these new shares and other operating improvements, earnings after taxes increased by 30 percent. (5 points) a. Compute earnings per share for the year 20XI. b. Compute earnings per share for the year 20X2. 3. Frantic Fast Foods had earnings after taxes of $480.000 in the year 20XI with 300,000 shares Earnings after taxes Earnings per sharShares outstanding 4. Classify the following balance sheet items as current or noncurrent: (5 Points) Retained earnings Accounts payable Prepaid expenses Plant and equipment Inventory Common stock Bonds payable Accrued wages payable Accounts receivable Capital in excess of par Preferred stock Marketable securities