# Financial information for Forever 18 includes the following selected data (in millions): ($in millions) 2018 2017 Net income$ 156

Financial information for Forever 18 includes the following selected data (in millions): ($in millions) 2018 2017 Net income$ 156 $188 Preferred stock dividends$ 23 $18 Average shares outstanding (in millions) 300 400 Stock price$ 11.87 $10.82 Required: 1-a. Calculate earnings per share in 2017 and 2018 ### Answers$0.4433 and $0.425 Explanation: The computation of the earning per share is shown below: Earning per share is = (Net income - preference dividend) ÷ (average shares outstanding) For 2017, it is = ($156 - $23) ÷ (300 shares) =$0.4433

For 2018, it is

= ($188 -$18) ÷ (400 shares)

= \$0.425

We simply applied the above formula so that the earning per share could be come for both the years

It’s option c for sure
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