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Ch 13-3 Exercises & Problems EPS Junkyard Arts, Inc., had earnings of $352,000 for the year. The company had 37,000 shares of common stock outstanding during the year and issued 4,400 shares of $100 par value preferred stock. The preferred stock has a dividend of $6 per share. There were no transactions in either common or preferred stock during the year. > Determine the basic earnings per share for Junkyard Arts for the year. Round answer to two decimal places. $ per share Dakota Inc. and Jersey & Company are two large companies that manufacture and sell equipment used in the construction, mining, agricultural, and forestry industries. The companies reported the following data (in millions) for two recent years: Dakota Jersey Year 2 Year 1 Year 2 Year 1 Net income $2,112 $3,715 $1,925 $3,222 Average number of common shares outstanding 594 599 3 34 363 a. Determine the earnings per share in Year 2 and Year 1 for each company. Round your answers to two decimal places. Year 2 Year 1 Dakota per share $ per share Jersey $ per shares per share b. Evaluate the relative profitability of the two companies. earnings per share for Year 1 and Year 2 are higher than However, from Year 1 to Year 2, the earnings per share for both companies The slowing world economy contributed to the from Year 1 to Year 2. Overall, appears to be the more profitable company. Statement of Stockholders' Equity The stockholders' equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 2019, are as follows. COMMON STOCK Jan. 1 Balance 700,000 Apr 14 Issued 10,200 shares 305,000 Dec. 31 Balance 1,006,000 112.000 PAID-IN CAPITAL IN EXCESS OF PAR pan. 1 Balance Apr. 14 Issued 10,200 shares pec. 31 Balance 21.400 183,400 TREASURY STOCK Aug. 7 Purchased 1,700 shares 47,600 1.220.000 Mar. 31 June 30 Sept. 30 Dec. 31 Dividend Dividend Dividend Dividend RETAINED EARNINGS 18,000an. 1 Balance 18,000Dec. 31 Closing 18,000 (Net income) 18,000 Dec. 31 Balance 1,331,000 Prepare a statement of stockholders' equity for the year ended December 31, 2019. If an amount is zero or an entry is not required, leave the box blank. Also, if an amount reduces Stockholders' Equity, then add "minus" sign. Cards Inc Statement of Stockholders' Equity For the Year Ended December 31, 2049 Common Stock $30 Par Paid-in Capital in Excess of Par r y Stock Retained Earnings Balance, Jan 1, 2019 Issued 10.200 shares of Common Stock Purchased 1.700 shares as Treasury Stock Net Income Dividends Balance, Dec 31, 2019