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Determine the earnings per share

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Question - Earnings per share - Financial statement data for the years 20Y5 and 20Y6 for Black Bull Inc. follow:

 

20Y5

20Y6

Net income

$1,366,000

$2,499,500

Preferred dividends

$50,000

$50,000

Average number of common shares outstanding

70,000 shares

115,000 shares

Required -

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

b. Is the change in the earnings per share from 20Y5 to 20Y6 favorable or unfavorable?

Reference no: EM133128780

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