FASB Website Research Case #2

Case:Della Bee Enterprises, a private company, is a client of yours.The company is a corporation, so there are ownership shares outstanding.However, all of these shares are held by a few family members and a handful of trusted employees.The controller of Della Bee Enterprises has contacted you with a question.She is preparing the financial statements for Della Bee and is not sure whether to include earnings per share data on the Income Statement.In order to comply with U.S. GAAP, are private companies required to provide EPS data on their income statements?

Please provide a memo answering the question in the format below.(Helpful hint: You will be looking for a "scope" of which entities are subject to the FASB ASC Earnings per Share topic).

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Conclusion: