Earnings Per Share Financial statement data for the years ended December 31 for

Question

Earnings Per Share Financial statement data for the years ended December 31 for Dovetail Corporation follow 20Y3 20Y2 $691,500 Net income Preferred dividends Average number of common shares outstanding a. Determine the earnings per share for 20Y3 and 20Y2. Round your answers to two decimal places. $818,000 $125,000 $125,000 70,000 shares 55,000 shares 20Y3per share 20Y2 ) per share b. Does the change in the earnings per share from 20Y2 to 2013 indicate a favorable or an unfavorable trend? 2 more Check My Work uses remaining

Explanation / Answer

1 2003 2002 Net income 818000 691500 Preferred dividend 125000 125000 Income contributable to common stockholders 693000 566500 Average number of commmon shares 70000 55000 Earnings per share 9.9 10.3 (693000/70000) (566500/55000) Change in earnings per share 0.4 Unfavorable 2 Retained earnings NOV 1 2008 2356000 Net income 895300 Dividends declared (95000+245000) -340000 555300 Retained earnings october 31 ,2009 2911300

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