Requlred Informatlon [The following Information applies to the questions displayed below.] Selected Financlal Data for Varlety World follows: ($ in millions except share data) 2021 2020 Net income $ 120 $ 210 Dividends on preferred stock Average shares outstanding (in millions) Stock price 30 21 250 500 $11.47 $10.42 Requlred: 1-a. Calculate earnings per share in 2020 and 2021. (Enter your answers In millons (I.e. 5,500,000 sho Earnings Per Share 2020
Requlred Informatlon [The following Information applies to the questions displayed below.] Selected Financlal Data for Varlety World follows: ($ in millions except share data) 2021 2020 Net income $ 120 $ 210 Dividends on preferred stock Average shares outstanding (in millions) Stock price 30 21 250 500 $11.47 $10.42 Requlred: 1-a. Calculate earnings per share in 2020 and 2021. (Enter your answers In millons (I.e. 5,500,000 sho Earnings Per Share 2020
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![### Required Information
**[The following information applies to the questions displayed below:]**
Selected Financial Data for Variety World follows:
| ($ in millions except share data) | 2021 | 2020 |
|----------------------------------------|------|------|
| **Net income** | $120 | $210 |
| **Dividends on preferred stock** | $30 | $21 |
| **Average shares outstanding (in millions)** | 250 | 500 |
| **Stock price** | $11.47 | $10.42 |
---
### Required:
**1-a. Calculate earnings per share in 2020 and 2021.** *(Enter your answers in millions (i.e., 5,500,000 should be entered as 5.5).)*
---
#### Earnings Per Share Calculation
| Year | Calculation | Result |
|------|-----------------------------------------|----------|
| 2020 | (Net Income - Dividends on Preferred Stock) / Average Shares Outstanding | |
| 2021 | (Net Income - Dividends on Preferred Stock) / Average Shares Outstanding | |
Fill in the calculations for each year in the table provided.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa3df5b63-8420-4e4f-b302-e11e0dfef4c4%2F43e011cb-fc3a-40bf-8eda-5797e9cff760%2F2tw5d8o_processed.png&w=3840&q=75)
Transcribed Image Text:### Required Information
**[The following information applies to the questions displayed below:]**
Selected Financial Data for Variety World follows:
| ($ in millions except share data) | 2021 | 2020 |
|----------------------------------------|------|------|
| **Net income** | $120 | $210 |
| **Dividends on preferred stock** | $30 | $21 |
| **Average shares outstanding (in millions)** | 250 | 500 |
| **Stock price** | $11.47 | $10.42 |
---
### Required:
**1-a. Calculate earnings per share in 2020 and 2021.** *(Enter your answers in millions (i.e., 5,500,000 should be entered as 5.5).)*
---
#### Earnings Per Share Calculation
| Year | Calculation | Result |
|------|-----------------------------------------|----------|
| 2020 | (Net Income - Dividends on Preferred Stock) / Average Shares Outstanding | |
| 2021 | (Net Income - Dividends on Preferred Stock) / Average Shares Outstanding | |
Fill in the calculations for each year in the table provided.
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