Delfavero Corporation has provided the following data: The company's earnings per share for Year 2 is closest to:
A)$10.33 per share
B)$0.52 per share
C)$0.34 per share
D)$0.79 per share

Question

Delfavero Corporation has provided the following data:  The company's earnings per share for Year 2 is closest to:
A)$10.33 per share 
B)$0.52 per share 
C)$0.34 per share 
D)$0.79 per share

Quizplus · Accepted Answer

To calculate earnings per share (EPS), we use the formula: 
EPS = Net Income / Number of Shares Outstanding

From the data provided, we know that the company has a net income of $1,020,000 (given as "Net Income" in millions), and the average number of shares outstanding for Year 2 is 3,000,000 (given as "Average Shares Outstanding" in millions).

Therefore, EPS = $1,020,000 / 3,000,000 = $0.34 per share. Thus, the closest answer is C.

Delfavero Corporation Has Provided the Following Data: the Company's