Homework Answers
| Dakota | Jersey | |||
| Year 2 | Year 1 | Year 2 | Year 1 | |
|
Net income |
$2197 | $3785 | $1935 | $3162 |
| Average number of common shares outstanding | 594 | 599 | 334 | 363 |
| Earnings per share = Net income ÷ Number of shares outstanding | $3.7 | $6.3 | $5.8 | $8.7 |
Jersey's earnings per share for year 1 and year 2 are higher than Dakota. However, from year 1 to year 2, the earnings per share for both companies decreased. The slowing world economy contributed to the decrease from year 1 to year 2. Overall, Jersey appears to be the more profitable company.
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