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Average number of common shares outstanding 50000 shares

Problem - Earnings Per Share

Financial statement data for the years ended December 31 for Dovetail Corporation follow:

20Y3 20Y2

Net income $510,500 $452,000

Preferred dividends $78,000 $78,000

Average number of common shares outstanding 50,000 shares 40,000 shares

a. Determine the earnings per share for 20Y3 and 20Y2. Round your answers to two decimal places.

b. Does the change in the earnings per share from 20Y2 to 20Y3 indicate a favorable or an unfavorable trend?

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Accounting Basics: Average number of common shares outstanding 50000 shares

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