Question
Earnings Per Share Financial statement data for the years ended December 31 for Cottontop Corporation follow: 20Y3 20Y2 Net income $355,500 $292,750 Preferred dividends $54,000
Earnings Per Share
Financial statement data for the years ended December 31 for Cottontop Corporation follow:
| 20Y3 | 20Y2 | |||
| Net income | $355,500 | $292,750 | ||
| Preferred dividends | $54,000 | $54,000 | ||
| Average number of common shares outstanding | 30,000 | shares | 25,000 | 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?
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Active Auditing A Practical Guide To Lean And Agile Auditing
Authors: Prescott Coleman, Sandy Kasahara
1st Edition
1092839305, 978-1092839303
