(a) Comparative financial statement data for Loeb Corporation and Bowsh Corporation, two competitors, appear below. All balance sheet data are as of December 31, 2025. Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Long-term liabilities Dividends paid on common stock Weighted-average common shares outstanding Loeb Corporation $ Bowsh Corporation $ Net Income Loeb Corporation $1,800,000 1,175,000 283,000 1,248,175 $ 9,000 $ 85,000 407,200 Compute the net income and earnings per share for each company for 2025. (Round earnings per share to 2 decimal places, e.g. $2.78.) 532,000 66,325 108,500 36,000 80,000 Bowsh Corporation $620,000 340,000 98,000 3,800 Earnings per Share 36,000 190,336 139,728 33,716 40,684 15,000 + 50,000

(a) Comparative financial statement data for Loeb Corporation and Bowsh Corporation, two competitors, appear below. All balance sheet data are as of December 31, 2025. Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Long-term liabilities Dividends paid on common stock Weighted-average common shares outstanding Loeb Corporation $ Bowsh Corporation $ Net Income Loeb Corporation $1,800,000 1,175,000 283,000 1,248,175 $ 9,000 $ 85,000 407,200 Compute the net income and earnings per share for each company for 2025. (Round earnings per share to 2 decimal places, e.g. $2.78.) 532,000 66,325 108,500 36,000 80,000 Bowsh Corporation $620,000 340,000 98,000 3,800 Earnings per Share 36,000 190,336 139,728 33,716 40,684 15,000 + 50,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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