James Corp. only has common stock outstanding and it had the same number of average common shares outstanding for 20X5 and 20X6. If it earned more net income in 20X5 than it did in 20X6, which of the following statements is true regarding its earning per share (EPS)? Select one: a. EPS for 20X5 and 20X6 will be the same. b. EPS for 20X6 will be higher than in 20X5. c. EPS for 20X6 will be lower than in 20X5.

James Corp. only has common stock outstanding and it had the same number of average common shares outstanding for 20X5 and 20X6. If it earned more net income in 20X5 than it did in 20X6, which of the following statements is true regarding its earning per share (EPS)? Select one: a. EPS for 20X5 and 20X6 will be the same. b. EPS for 20X6 will be higher than in 20X5. c. EPS for 20X6 will be lower than in 20X5.

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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