The following information is available for Callaway Golf Company for the years 2006 and 2005. (Dollars are in thousands, except share information.)

There were 69,111,349 shares outstanding at the end of 2004.

Instructions
(a) What was the company's earnings per share for each year?
(b) Based on your findings above, how did the company's profitability change from 2005 to 2006?
(c) Suppose the company had paid dividends on preferred stock and on common stock during the year. How would this affect your calculation in part(a)?

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2006 Net sales Net income (loss) Total assets $1,017,907 23,290 845,947 2005 $998,093 13,284 764,498 Share information Shares outstanding at ycar-end 67,954,213 70,495,136 Preferred dividends