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Instructions a. What was the company's earnings per share for each year? b. Based on your findings above, how did the company's profitability change from 2021 to 2022? c. Suppose the company had paid dividends on preferred stock and on common stock during the year. How would this affect your calculation in part (a)?

Instructions a. What was the company's earnings per share for each year? b. Based on your findings above, how did the company's profitability change from 2021 to 2022? c. Suppose the company had paid dividends on preferred stock and on common stock during the year. How would this affect your calculation in part (a)?

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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E2.8 (LO 2), AP Suppose the following information is available for Callaway Golf Company for the years 2022 and 2021. (Dollars are in thousands, except share information.) Compute and interpret profitability ratio. 2022 2021 Net sales $ 1,117,204 $ 1,124,591 Net income (loss) 66,176 54,587 838,078 Total assets 855,338 Share information Common Shares outstanding at year-end 64,507,000 66,282,000 Preferred dividends -0- -0- There were 73,139,000 shares of common stock outstanding at the end of 2020. Instructions a. What was the company's earnings per share for each year? b. Based on your findings above, how did the company's profitability change from 2021 to 2022? c. Suppose the company had paid dividends on preferred stock and on common stock during the year. How would this affect your calculation in part (a)?
Transcribed Image Text:E2.8 (LO 2), AP Suppose the following information is available for Callaway Golf Company for the years 2022 and 2021. (Dollars are in thousands, except share information.) Compute and interpret profitability ratio. 2022 2021 Net sales $ 1,117,204 $ 1,124,591 Net income (loss) 66,176 54,587 838,078 Total assets 855,338 Share information Common Shares outstanding at year-end 64,507,000 66,282,000 Preferred dividends -0- -0- There were 73,139,000 shares of common stock outstanding at the end of 2020. Instructions a. What was the company's earnings per share for each year? b. Based on your findings above, how did the company's profitability change from 2021 to 2022? c. Suppose the company had paid dividends on preferred stock and on common stock during the year. How would this affect your calculation in part (a)?
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