Compute the earnings per share for the current year

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Reference no: EM13530919

Assume the following facts for the current year:

Net income

$200,000

Common dividends

$20,000

Preferred dividends (The preferred stock is not convertible.)

$10,000

Common shares outstanding on January 1

20,000 shares

Common stock issued on July 1 2-for-1 stock split on December 31

5,000 shares

Required

a. Compute the earnings per share for the current year.

b. Earnings per share in the prior year was $8.00. Use the earnings per share computed in (a) and present a two-year earnings per share comparison for the current year and the prior year.

Reference no: EM13530919

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