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Financial statement data for the years ended December 31 for Cottontop Corporation follow: 2013 2012 $739,000 $113,000 Net income Preferred dividends Average number of common shares outstanding 30,000 shares a. Determine the earnings per share for 2013 and 2012. Round your answers to two decimal places. 2013 per share 2012 per share b. Does the change in the earnings per share from 2012 to 2013 indicate a favorable or unfavorable trend? Favorable ✓ $572,000 $113,000 40,000 shares

Financial statement data for the years ended December 31 for Cottontop Corporation follow: 2013 2012 $739,000 $113,000 Net income Preferred dividends Average number of common shares outstanding 30,000 shares a. Determine the earnings per share for 2013 and 2012. Round your answers to two decimal places. 2013 per share 2012 per share b. Does the change in the earnings per share from 2012 to 2013 indicate a favorable or unfavorable trend? Favorable ✓ $572,000 $113,000 40,000 shares

FINANCIAL ACCOUNTING
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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Earnings Per Share Financial statement data for the years ended December 31 for Cottontop Corporation follow: 2013 2012 Net income Preferred dividends Average number of common shares outstanding 30,000 shares a. Determine the earnings per share for 2013 and 2012. Round your answers to two decimal places. per share per share $739,000 $113,000 2013 $572,000 $113,000 40,000 shares 2012 b. Does the change in the earnings per share from 2012 to 2013 indicate a favorable or unfavorable trend? Favorable Check My W Keep in mind the definition of earnings per share. Consider what the earnings per share number reveals.
Transcribed Image Text:Earnings Per Share Financial statement data for the years ended December 31 for Cottontop Corporation follow: 2013 2012 Net income Preferred dividends Average number of common shares outstanding 30,000 shares a. Determine the earnings per share for 2013 and 2012. Round your answers to two decimal places. per share per share $739,000 $113,000 2013 $572,000 $113,000 40,000 shares 2012 b. Does the change in the earnings per share from 2012 to 2013 indicate a favorable or unfavorable trend? Favorable Check My W Keep in mind the definition of earnings per share. Consider what the earnings per share number reveals.
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