Number A B C D E F G H J K L P-1: Income Statement (LO1) Frantic Fast Foods had earnings after taxes of $420,000 in the year 20X1 with 309,000 shares outstanding. On January 1, 20X2, the firm issued 20,000 new shares. Because of the proceeds from these new shares and other operating improvements, earnings after taxes increased by 30 percent. a. Compute earnings per share for the year 20X1. b. Compute earnings per share for the year 20X2. 1. Given: Earnings Shares EPS 20X2 Increases Shares: 20000 a) -Earnings/Shares b) 20X1 420000 309000 1.36 20X2 546000 329000 1.36 Original (1+increase) Earnings: 0.3 P-2: Income statement (LO1) Sosa Diet Supplements had earnings after taxes of $800,000 in the year 20X1 with 200,000 shares of stock outstanding. On January 1, 20X2, the firm issued 50,000 new shares. Because of the proceeds from these new shares and other operating improvements, earnings after taxes increased by 30 percent. a. Compute earnings per share for the year 20X1. b. Compute earnings per share for the year 20X2. 6 7 Earnings Shares EPS On Own Given: 8 20X2 Increases Shares: 20X1 800.000 200.000 20X2 Earnings: T9 2345 BOLH234 9 10 11 12 13 14 a) b) fx 50000 M Styl