Financial statement data for the years ended December 31 for Cottontop Corporation follow: 20Y3 20Y2 Net income $775,000 $966,000 Preferred dividends $35,000 $35,000 Average number of common shares outstanding 80,000 shares 95,000 shares a. Determine the earnings per share for 20Y3 and 20Y2. Round your answers to two decimal places. 20Y3 $fill in the blank 1 per share 20Y2 $fill in the blank 2 per share b. Does the change in the earnings per share from 20Y2 to 20Y3 indicate a favorable or unfavorable trend?
Financial statement data for the years ended December 31 for Cottontop Corporation follow: 20Y3 20Y2 Net income $775,000 $966,000 Preferred dividends $35,000 $35,000 Average number of common shares outstanding 80,000 shares 95,000 shares a. Determine the earnings per share for 20Y3 and 20Y2. Round your answers to two decimal places. 20Y3 $fill in the blank 1 per share 20Y2 $fill in the blank 2 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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Financial statement data for the years ended December 31 for Cottontop Corporation follow:
| 20Y3 | 20Y2 | |||
| Net income | $775,000 | $966,000 | ||
| Preferred dividends | $35,000 | $35,000 | ||
| Average number of common shares outstanding | 80,000 | shares | 95,000 | shares |
a. Determine the earnings per share for 20Y3 and 20Y2. Round your answers to two decimal places.
| 20Y3 | $fill in the blank 1 per share |
| 20Y2 | $fill in the blank 2 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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