Question
Financial statement data for the years ended December 31 for Cottontop Corporation follow: 20Y3 20Y2 Net income $398,500 $302,500 Preferred dividends $61,000 $61,000 Average number
Financial statement data for the years ended December 31 for Cottontop Corporation follow:
| 20Y3 | 20Y2 | |||
| Net income | $398,500 | $302,500 | ||
| Preferred dividends | $61,000 | $61,000 | ||
| Average number of common shares outstanding | 45,000 | shares | 35,000 | 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?
FavorableUnfavorable
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The Outsourcing Dilemma Whats Best For Internal Auditing
Authors: Larry E. Rittenberg, Institute Of Internal Auditors Research Foundation, Lee A. Campbell
1st Edition
0894133845, 978-0894133848
