Pacific Gas and Electric Company is a large gas and electric utility operating in northern and central California. Three recent years of financial data for Pacific Gas and Electric Company are as follows: Fiscal Years Ended Year 3 Year 2 Year 1 Net income $880 $1,470 $810 Preferred dividends $16 $16 $16 Average number of common shares outstanding 484 468 444 b. Evaluate the growth in earnings per share for the three years in comparison to the growth in net income for the three years. Round your answers to the nearest whole percentage. Negative amount should be indicated by the minus sign. Earnings per share growth as a percent of Year 1 (base year) Year 3 fill in the blank 4% Year 2 fill in the blank 5% Year 1 Earnings fill in the blank 6% Net income growth as a percent of Year 1 (base year) Year 3 fill in the blank 7% Year 2 fill in the blank 8% Year 1 Earnings fill in the blank 9%
Pacific Gas and Electric Company is a large gas and electric utility operating in northern and central California. Three recent years of financial data for Pacific Gas and Electric Company are as follows: Fiscal Years Ended Year 3 Year 2 Year 1 Net income $880 $1,470 $810 Preferred dividends $16 $16 $16 Average number of common shares outstanding 484 468 444 b. Evaluate the growth in earnings per share for the three years in comparison to the growth in net income for the three years. Round your answers to the nearest whole percentage. Negative amount should be indicated by the minus sign. Earnings per share growth as a percent of Year 1 (base year) Year 3 fill in the blank 4% Year 2 fill in the blank 5% Year 1 Earnings fill in the blank 6% Net income growth as a percent of Year 1 (base year) Year 3 fill in the blank 7% Year 2 fill in the blank 8% Year 1 Earnings fill in the blank 9%
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Pacific Gas and Electric Company is a large gas and electric utility operating in northern and central California. Three recent years of financial data for Pacific Gas and Electric Company are as follows:
| Fiscal Years Ended | ||||||
| Year 3 | Year 2 | Year 1 | ||||
| Net income | $880 | $1,470 | $810 | |||
| Preferred dividends | $16 | $16 | $16 | |||
| Average number of common shares outstanding | 484 | 468 | 444 |
b. Evaluate the growth in earnings per share for the three years in comparison to the growth in net income for the three years. Round your answers to the nearest whole percentage. Negative amount should be indicated by the minus sign.
Earnings per share growth as a percent of Year 1 (base year)
| Year 3 | fill in the blank 4% |
| Year 2 | fill in the blank 5% |
| Year 1 Earnings | fill in the blank 6% |
Net income growth as a percent of Year 1 (base year)
| Year 3 | fill in the blank 7% |
| Year 2 | fill in the blank 8% |
| Year 1 Earnings | fill in the blank 9% |
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