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1) The following is financial statement data from Bug Company for years ended December 31: (5...

1) The following is financial statement data from Bug Company for years ended December 31: (5 points) 2016 2017 Net Income $524,748 $618,184 Preferred Dividends $25,000 $25,000 Average number of common shares outstanding 70,000 80,000 Instructions: a) Calculate the earnings per share for 2016 and 2017. b) Was there a favorable or unfavorable trend for earnings per share from 2016 to 2017?

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Answer #1

Requirement: a Earning per share (Net Income - Preferred Dividend)/ Average number ofCommon shares outstanding 2016 2017 5247

Note: Earning per share rounded to two decimals

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