Security analysts following Health Sciences Inc use a simplified income
Security analysts following Health Sciences, Inc., use a simplified income statement method of forecasting. Assume that 2011 sales are $30 million and are expected to grow by 11 percent in 2012 and 2013. The after-tax profit margin is projected at 6.1 percent in 2012 and 5.9 percent in 2013. The number of shares outstanding is anticipated to be 700,000 in 2012 and 710,000 in 2013. Project earnings per share for 2012 and 2013. Round to two places to the right of the decimal point throughout the problem.
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