Dakota Inc. and Jersey & Company are two large companies that manufacture and se
ID: 2571285 • Letter: D
Question
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:
a. Determine the earnings per share in Year 2 and Year 1 for each company. Round your answers to two decimal places.
Dakota Jersey Year 2 Year 1 Year 2 Year 1 Net income $2,197 $3,765 $1,905 $3,262 Average number of common shares outstanding 594 599 334 363 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 Year1 $3,765 594599 Year 2Year 1 $3,262 334363 Year 2 $2,197 $1,905 Net income Average number of common shares outstanding a. Determine the earnings per share in Year 2 and Year 1 for each company. Round your answers to two decimal places. Year 2 Year 1 Dakota per share per share Jersey per shareper shareExplanation / Answer
Earnings per share in year 2 & year1 of two companies
Company
year 2
year 1
Dakota
$ 3.70
$ 6.29
jersey
$ 5.70
$ 8.99
Dakota
jersey
year 2
year 1
year2
year1
Net income (A)
$ 2,197.00
$ 3,765.00
$ 1,905.00
$ 3,262.00
Number of shares (B)
$ 594.00
$ 599.00
$ 334.00
$ 363.00
Earning per share (C=A/B)
$ 3.70
$ 6.29
$ 5.70
$ 8.99
Formula
Earning per share=(net income-preferred dividend)/average no of shares outstanding
Earnings per share in year 2 & year1 of two companies
Company
year 2
year 1
Dakota
$ 3.70
$ 6.29
jersey
$ 5.70
$ 8.99
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