Question
Financial statement data for the years 20Y5 and 20Y6 for Black Bull Inc. follow: 20Y5 20Y6 Net income $1,538,000 $2,485,700 Preferred dividends $50,000 $50,000 Average
Financial statement data for the years 20Y5 and 20Y6 for Black Bull Inc. follow:
| 20Y5 | 20Y6 | |||
| Net income | $1,538,000 | $2,485,700 | ||
| Preferred dividends | $50,000 | $50,000 | ||
| Average number of common shares outstanding | 80,000 | shares | 115,000 | shares |
a. Determine the earnings per share for 20Y5 and 20Y6. Round to two decimal places.
| 20Y5 | 20Y6 | |||
| Earnings per Share | $fill in the blank 1 | $fill in the blank 2 | ||
b. Is the change in the earnings per share from 20Y5 to 20Y6 favorable or unfavorable?
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Managerial Accounting
Authors: Stacey Whitecotton, Robert Libby, Fred Phillips
3rd edition
77826485, 978-0077722074, 77722078, 978-0077826482
