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Financial statement data for the years ended December 31 for Dovetail Corporation follow: 20Y3 20Y2 Net income $925,000 $755,250 Preferred dividends $141,000 $141,000 Average number

Financial statement data for the years ended December 31 for Dovetail Corporation follow:

20Y3 20Y2

Net income $925,000 $755,250

Preferred dividends $141,000 $141,000

Average number of common shares outstanding 80,000shares 65,000shares

a.Determine the earnings per share for 20Y3 and 20Y2. Round your answers to two decimal places.

20Y3. $_________per share

20Y2. $_________per share

b.Does the change in the earnings per share from 20Y2 to 20Y3 indicate a favorable or an unfavorable trend?

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