1. Reading an income statement

Calculating Earnings and Dividends per share:

U S Corporation

2017 Income Statement

($ in millions)

Net sales	$1,509
Cost of goods sold	750
Depreciation	65
Earnings before interest and taxes	$ 694
Interest paid	70
Taxable income	$ 624
Taxes (34%)	212
Net income	$ 412
Dividends	$ 103
Addition to retained earnings	309

Suppose U S had 200 million shares outstanding at the end of 2017. Based on the income statement in the table above, what was EPS? What were dividends per share?

From the income statement, we see that U S had a net income of $412 million for the year. Total dividends were $103 million. Knowing how many shares were outstanding, calculate earnings per share, or EPS, and dividend per share:

Earnings per share	Calculations*	$ _________ per share
Dividends per share	Calculations*	$ _________ per share

*show calculations