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16 September, 19:13

Dakota Inc. and Jersey & Company are two large companies that manufacture and sell equipment used in the construction, mining, agricultural, and forestry industries. The companies reported the following data (in millions) for two recent years:

Dakota Jersey

Year 2 Year 1 Year 2 Year 1

Net income $2,182 $3,715 $1,925 $3,187

Average number of common shares outstanding 594 599 334 363

Required:

a. Determine the earnings per share in Year 2 and Year 1 for each company. Round your answers to two decimal places.

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Answers (1)
  1. 16 September, 20:23
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    Answer and Explanation:

    The computation of the earning per share is shown below:

    As we know that

    Earning per share = Net income : Average number of common shares outstanding

    For year 1

    Dakota

    = $3,715 : 599 shares

    = $5.30 per share

    Jersey

    = $3,187 : 363 shares

    = $8.78 per share

    For year 2

    Dakota

    = $2,182 : 594 shares

    = $3.67 per share

    Jersey

    = $1,925 : 334 shares

    = $5.76 per share
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