Earnings per share

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Earnings per share

Financial statement data for the years 20Y5 and 20Y6 for Black Bull Inc. follow:

  20Y5 20Y6
Net income $1,516,000   $2,425,000  
Preferred dividends $60,000   $60,000  
Average number of common shares outstanding 80,000 shares 110,000 shares

a. Determine the earnings per share for 20Y5 and 20Y6. Round to two decimal places.

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