Question: Earnings Per Share Financial statement data for the years ended December 31 for Dovetail Corporation follow: 20Y3 20Y2 Net income $823,500 $702,000 Preferred dividends $126,000

  1. Earnings Per Share

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

    20Y3 20Y2
    Net income $823,500 $702,000
    Preferred dividends $126,000 $126,000
    Average number of common shares outstanding 75,000 shares 60,000 shares

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

    20Y3 $ per share
    20Y2 $ per share

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

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