Question: 15 Normalized Earnings Using the data in the following data for Magnolia Enterprises Item 2016 2017 2018 2019 EPS $4.20 $3.75 $4.75 $4.30 BVPS

15 Normalized Earnings Using the data in the following data for Magnolia Enterprises Item 2016 2017 2018 2019 EPS $4.20 $3.75 $4.75 $4.30 BVPS $26.02 $27.78 $29.25 $32.29 ROE 14% 12% 16% 14% Calculate the normalized earnings using the method of: a. historical average EPS $ Number Round your answer to two decimals. b. average return on equity $ Number Round your answer to two decimals.

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=+b. Journalize the entry to record the payroll accrual.

=+c. Journalize the entry to record the payment of the payroll.