Earnings per shareFinancial statement data for the years 20Y5 and 20Y6 for Black Bull Inc. follow: 20Y520Y6Net income$1,516,000 $2,425,000 Preferred dividends$60,000 $60,000 Average number of common shares outstanding80,000shares110,000sharesa. Determine the earnings per share for 20Y5 and 20Y6. Round to two decimal places.

Name: Earnings per shareFinancial statement data for the years 20Y5 and 20Y6
Uploaded: 2022-11-04T13:36:16.000Z
Channel: Bartleby
Description: Earnings per shareFinancial statement data for the years 20Y5 and 20Y6 for Black Bull Inc. follow: 20Y520Y6Net income$1,516,000 $2,425,000 Preferred dividends$60,000 $60,000 Average number of common shares outstanding80,000shares110,000sharesa. Deter

Earnings per share = (Net income - Preferred dividends)/Average number of common shares outstanding

Answered: 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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