Question: Earnings Per Share Financial statement data for the years ended December 31 for Cottontop Corporation follow: 20Y3 20Y2 Net income $728,500 $601,000 Preferred dividends $111,000

Earnings Per Share

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

20Y3 20Y2
Net income $728,500 $601,000
Preferred dividends $111,000 $111,000
Average number of common shares outstanding 65,000 shares 50,000 shares

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

20Y3 $fill in the blank 1 per share
20Y2 $fill in the blank 2 per share

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