Financial statement data for the years 2015 and 2016 for Black Bull Inc. follow: Net income Preferred dividends Average number of common shares outstanding 20Y5 $1,355,000 $60,000 70,000 shares 20Y6 $2,578,500 $60,000 115,000 shares a. Determine the earnings per share for 2015 and 2016. Round to two decimal places. Earnings per Share 20Y5 X 20Y6 b. Is the change in the earnings per share from 2015 to 20Y6 favorable or unfavorable? Favorable

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