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Tomm Tomm
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6 years ago
The statement of earnings for Bancroft Company for the year ended December 31, 2013 appears below.

Sales   $162,000
Cost of goods sold     96,000
Gross profit   66,000
Expenses   * 36,000
Net income   $ 30,000

*Includes $6,000 of interest expense and $3,200 of income tax expense.

 Additional information:
 1.   Average number of common shares outstanding in 2013 was 15,000 shares.
 2.   The market price of Bancroft's shares was $36 per share at the end of 2013
 3.   Cash dividends of $6,000 were paid; $1,200 of which were paid to preferred shareholders.
   Calculate the earnings per share for 2013.
Textbook 
Financial Accounting, Canadian Edition

Financial Accounting, Canadian Edition


Edition: 5th
Authors:
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TheSinTheSin
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6 years ago
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