Suppose the following information is available for Callaway
Golf Company for the years 2022 and 2021. (Dollars are in
thousands, except share information.)
2022 | 2021 | |||
---|---|---|---|---|
Net sales |
$ 1,114,000 | $ 1,120,100 | ||
Net income (loss) |
87,510 | 61,820 | ||
Total assets |
855,338 | 838,078 | ||
Share information | ||||
Shares outstanding at year-end |
72,000,000 | 73,850,000 | ||
Preferred dividends |
0 | 0 |
There were 80,700,000 shares outstanding at the end of 2020.
(a)
What was the company’s earnings per share for each year?
(Round answers to 2 decimal places, e.g.
15.25.)
2022 : |
$enter the company’s earnings per share for 2017 in dollars rounded to 2 decimal places | |
---|---|---|
2021 : |
$enter the company’s earnings per share for 2016 in dollars rounded to 2 decimal places |
Answer -
Company’s Earnings Per Share
Year | Explanation | Earnings Per Share |
2022 | Refer working note - (2) | $1.2 |
2021 | Refer working note - (1) | $0.8 |
.
# Working note - (1) - Computation of Earnings Per Share for the year 2021 -
Particulars | Explanation | ||
I. | Net income | Given in question | $61820000 |
II. | Shares outstanding at the end of 2020 | Given in question | 80700000 shares |
III. | Shares outstanding at the end of 2021 | Given in question | 73850000 shares |
IV. | Average number of shares outstanding | (II + III) / 2 | 77275000 shares |
Earnings Per Share | I / IV | $0.8 | |
.
# Working note - (2) - Computation of Earnings Per Share for the year 2022 -
Particulars | Explanation | ||
I. | Net income | Given in question | $87510000 |
II. | Shares outstanding at the end of 2021 | Given in question | 73850000 shares |
III. | Shares outstanding at the end of 2022 | Given in question | 72000000 shares |
IV. | Average number of shares outstanding | (II + III) / 2 | 72925000 shares |
Earnings Per Share | I / IV | $1.2 | |
Suppose the following information is available for Callaway Golf Company for the years 2022 and 2021....
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