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What will postmerger earnings per share be for picasso art

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Reference no: EM132989743

Assume the following financial data for Rembrandt Paint Co. and Picasso Art Supplies:

                                                                      Rembrandt Paint Co.                Picasso Art Supplies

Total earnings                                                $352,000                         $920,000

Number of shares of stock outstanding               110,000                               460000

Earnings per share                                             $3.20                                      $2

Price-earnings ratio (P/E)                                       10                                         16

Market price per share                                              $32                                      $32

Problem 1: If all the shares of Rembrandt Paint Co. are exchanged for those of Picasso Art Supplies on a share-for-share basis, what will postmerger earnings per share be for Picasso Art Supplies?

Reference no: EM132989743

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