Question

For Year 2 Daisy Corporation reported net income of $60; net sales $800; and average shares outstanding 6. There were no preferred stock dividends. What were the Year 2 earnings per share for Daisy

Answer 1

$10

Step-by-step explanation:

Daisy corporation reported a net income of $60

Net sales of $800

Average shares outstanding of 6

Therefore the earnings per share of Daisy corpora tion on year 2 can be calculated as follows.

= net income/Average shares outstanding

= $60/6

= $10