P$-1$: Income Statement $($LO$1)$ Frantic Fast Foods had earnings after taxes of $$420,000$ in the vear $20x1$ with $309,000$ shares outstanding. On January $1,202,$ 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 $201.$

b$.$ Compute earnings per share for the vear $202.$

Given:

P$-2$: Income statement $($LO$1)$ Sosa Diet Supplements had earnings after taxes of $$800,000$ in the vear $201$ with $200,000$ shares of stock outstanding. On January $1,20$X$2,$ the firm issued $50,000$ in whares. 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 $201.$

b$.$ Compute earnings per share for the vear $202.$

Given: