Question: Financial statement data for the years ended December 31 for Cottontop Corporation follow: 20Y3 20Y2 Net income $549,000 $486,500 Preferred dividends $84,000 $84,000 Average number

Financial statement data for the years ended December 31 for Cottontop

Financial statement data for the years ended December 31 for Cottontop Corporation follow: 20Y3 20Y2 Net income $549,000 $486,500 Preferred dividends $84,000 $84,000 Average number of common shares outstanding 30,000 shares 25,000 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 unfavorable trend

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