Information from the financial statements of Chan Limited is provided below 2017

Question

Information from the financial statements of Chan Limited is provided below 2017 2016 Total comprehensive income Cash dividends paid on preferred share Cash dividends paid on ordinary share Average number of preferred shares Average number of ordinary shares Market price per share of ordinary share at year-end $190 000 15 000 42 000 50 000 125 000 25.10 $120 000 15 000 38 000 20 000 105 000 22.70 Refer to the information for Chan. Earnings per share for 2017 would be reported as: O $1.20 $3.40 O $1.03 $1.65

Explanation / Answer

Earnings Per Share = Total Comprehensive Income for 2017 / Average Equity

Earnings Per Share = 190000 / (125000 + 105000)/2

Earnings Per Share = 190000 / 115000

Earnings Per Share = $1.65

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