Gas and Electric Company is a large gas and electric utility operating in northern and central California. Three recent years of financial data for Fiscal Years Ended Year 3 Year 2 Year 1 income $876 $1,320 $808 erred dividends $20 $20 $20 age number of common shares outstanding 484 468 444 etermine the earnings per share for fiscal Year 3, Year 2, and Year 1. Round to two decimal places. 3 Earnings per share 2 Earnings 1 Earnings per share per share Evaluate the growth in earnings per share for the three years in comparison to the growth in net income for the three years. Round your ansv e minus sign. ngs per share growth as a percent of Year 1 (base year) 3 % 2 % 1 Earnings % ncome growth as a percent of Year 1 (base year) 3 %

Gas and Electric Company is a large gas and electric utility operating in northern and central California. Three recent years of financial data for Fiscal Years Ended Year 3 Year 2 Year 1 income $876 $1,320 $808 erred dividends $20 $20 $20 age number of common shares outstanding 484 468 444 etermine the earnings per share for fiscal Year 3, Year 2, and Year 1. Round to two decimal places. 3 Earnings per share 2 Earnings 1 Earnings per share per share Evaluate the growth in earnings per share for the three years in comparison to the growth in net income for the three years. Round your ansv e minus sign. ngs per share growth as a percent of Year 1 (base year) 3 % 2 % 1 Earnings % ncome growth as a percent of Year 1 (base year) 3 %

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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Financial statement data for the years ended December 31 for Cottontop Corporation follow: 20Y3 20Y2 Net income $768,750 $627,750 Preferred dividends $117,000 $117,000 Average number of common shares outstanding 55,000 shares 45,000 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 $957,250 $832,250 Preferred dividends $146,000 $146,000 Average number of common shares outstanding 55,000 shares 45,000 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?Unfavorable
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