Suppose the following information is available for Callaway Golf Company for the years 2022 and 2021.
| 2022 | 2021 | |
|---|---|---|
| Net sales | $1,130,000 | $1,137,500 |
| Net income/(loss) | 71,316 | 61,438 |
| Total assets | 855,338 | 838,078 |
| Share information: | ||
| Shares outstanding at year-end | 67,000,000 | 68,840,000 |
| Preferred dividends | 0 | 0 |
There were 75,720,000 shares outstanding at the end of 2020.
What were the company’s earnings per share for each year?
Suppose the following information is available for Callaway Golf Company for the years 2017 and 2016.
| 2017 | 2016 | |
|---|---|---|
| Net sales | $1,130,000 | $1,137,600 |
| Net income (loss) | 103,840 | 46,475 |
| Total assets | 868,338 | 851,078 |
| Share information: | ||
| Shares outstanding at year-end | 61,500,000 | 68,300,000 |
| Preferred dividends | 0 | 0 |
There were 74,700,000 shares outstanding at the end of 2015.
What were the company’s earnings per share for each year?
Monroe Company owns 40% of the voting stock of Nartal Industries, acquired at book value. Nartal reports an income of $600,000 for 2020. Nartal regularly sells merchandise to Monroe at a markup of 30% on cost. Monroe’s 2020 beginning inventory includes $156,000 purchased from Nartal. It’s 2020 ending inventory includes $260,000 purchased from Nartal. Monroe uses the equity method to report its investment in Nartal.
Equity in the net income of Nartal for 2020 is:
A. $216,000
B $230,400
C. $264,000
D. $249,600
