Question
Financial statement data for the years ended December 31 for Dovetail Corporation follows: 2016 2015 Net income $448,750 $376,000 Preferred dividends $40,000 $40,000 Average number
Financial statement data for the years ended December 31 for Dovetail Corporation follows:
| 2016 | 2015 | |||
| Net income | $448,750 | $376,000 | ||
| Preferred dividends | $40,000 | $40,000 | ||
| Average number of common shares outstanding | 75,000 | shares | 60,000 | shares |
a. Determine the earnings per share for 2016 and 2015. Round your answers to two decimal places.
| 2016 | _________$ per share |
| 2015 | _________$ per share |
b. Does the change in the earnings per share from 2015 to 2016 indicate a favorable or an unfavorable trend?
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
Getting The Schools You Want A Step By Step Guide To Conducting Your Own Curriculum Management Audit
Authors: Kimberly M. Logan
1st Edition
0803965443, 978-0803965447
