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Exercise 2-7
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Suppose the following information is available for Callaway Golf Company for the years 2014 and 2013. (Dollars are in thousands, except share information.)
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Question & Answer: 014 and 2013. (Dollars are in thousands, except share information.)…..
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| 2014 | 2013 | |||
| Net sales | $ 1,129,069 | $ 1,135,252 | ||
| Net income (loss) | 70,964 | 59,018 | ||
| Total assets | 867,804 | 848,927 | ||
| Share information | ||||
| Shares outstanding at year-end | 64,663,000 | 66,382,000 | ||
| Preferred dividends | 0 | 0 |
There were 73,511,000 shares outstanding at the end of 2012.
(a)
What was the company’s earnings per share for each year? (Round answers to 2 decimal places, e.g. 15.25.)
| 2014 : | $ |
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| 2013 : | $ |
Expert Answer
| Earnings per share = Net income/ Average shares outstanding | |||
| 2014 | 1.08 | =70964000/((64663000+66382000)/2) | |
| 2013 | 0.84 | =59018000/((66382000+73511000)/2) | |
