Question: Financial statement data for the years ended December 31 for Dovetail Corporation follow: 20Y3 20Y2 Net income $354,000 $266,500 Preferred dividends $54,000 $54,000 Average number

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

	20Y3		20Y2
Net income	$354,000		$266,500
Preferred dividends	$54,000		$54,000
Average number of common shares outstanding	60,000	shares	50,000	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?

On May 27, Buzz Off Inc. reacquired 4,100 shares of its common stock at $32 per share. On August 3, Buzz Off sold 1,900 of the reacquired shares at $35 per share. November 14, Buzz Off sold the remaining shares at $31 per share.

Journalize the transactions of May 27, August 3, and November 14. For a compound transaction, if an amount box does not require an entry, leave it blank.

May 27

Aug. 3


Nov. 14

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