Question 1

Understanding EPS Calculations On its Form 10-K for the year ended December 31, 2015, Bank of America Corp. reported information related to basic earnings per share. Fill in the missing information.

Rounding instruction:

Round answer a. to two decimal places. Round answer b., c., & d. to the nearest million. Round answer e. to three decimal places.

$ millions, except per share amounts		2015		2014		2013
Net income		$17,486		$4,833	d.	Answer
Preferred stock dividends		$1,483	b.	Answer		$1,349
Net income applicable to common shareholders		$16,003	c.	Answer		$10,165
Average common shares outstanding		10,462.282		10,527.818	e.	Answer
Basic earnings per share	a.	Answer		$0.33		$0.94