Pacific Gas and Electric Company (PCG) is a large gas and electric utility operating in northern and

Question:

Pacific Gas and Electric Company (PCG) is a large gas and electric utility operating in northern and central California. Three recent years of financial data for Pacific Gas and Electric are as follows (in millions):

Year 3 Year 2 Year 1 Net income Preferred dividends Average number of common shares outstanding $1,407 $1,450 $888 $14 4

a. Determine the earnings per share for Years 1€“3. Round to the nearest cent.
b. Interpret the trend in earnings per share using horizontal analysis for the three years in terms of the change in earnings and average shares outstanding.

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a Year 3 Year 2 Year 1 Net income 1407 888 1450 Preferred dividends 14 14 14 Numerator 1393 874 1436 ...View the full answer

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Abhirami Suresh

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Corporate Financial Accounting

ISBN: 9781337398169

15th Edition

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

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Question Posted: Jul 30, 2018 05:36 AM

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Pacific Gas and Electric Company (PCG) is a large gas and electric utility operating in northern and

Question:

Year 3 Year 2 Year 1 Net income Preferred dividends Average number of common shares outstanding $1,407 $1,450 $888 $14 499 $14 484 $14 468

Step by Step Answer:

a Year 3 Year 2 Year 1 Net income 1407 888 1450 Preferred dividends 14 14 14 Numerator 1393 874 1436 ...View the full answer

Corporate Financial Accounting

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