Question
Earnings Per Share Financial statement data for the years ended December 31 for Cottontop Corporation follow: 20Y3 20Y2 Net income $221,000 $214,000 Preferred dividends $34,000
Earnings Per Share
Financial statement data for the years ended December 31 for Cottontop Corporation follow:
| 20Y3 | 20Y2 | |||
| Net income | $221,000 | $214,000 | ||
| Preferred dividends | $34,000 | $34,000 | ||
| Average number of common shares outstanding | 55,000 | shares | 45,000 | shares |
a. Determine the earnings per share for 20Y3 and 20Y2. Round your answers to two decimal places.
| 20Y3 | $fill in the blank 1 per share |
| 20Y2 | $fill in the blank 2 per share |
b. Does the change in the earnings per share from 20Y2 to 20Y3 indicate a favorable or unfavorable trend?
FavorableUnfavorable
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Corporate Reporting In India Financial And Social Performance Disclosures
Authors: V.K. Vasal
1st Edition
8177081217, 978-8177081213
