Suppose the following information is available for Callaway Golf Company for the years 2022 and 2021. (Dollars are in thousands, except share information.) 2022 2021 Net sales $ 1,121,000 $ 1,128,400 Net income (loss) 76,329 61,171 Total assets 855,338 838,078 Share information Shares outstanding at year-end 68,500,000 70,280,000 Preferred dividends 0 0 There were 77,120,000 shares outstanding What was the company's earnings per share for each year?

Question

Myla

Business

22 November, 01:19

Suppose the following information is available for Callaway Golf Company for the years 2022 and 2021. (Dollars are in thousands, except share information.) 2022 2021 Net sales $ 1,121,000 $ 1,128,400 Net income (loss) 76,329 61,171 Total assets 855,338 838,078 Share information Shares outstanding at year-end 68,500,000 70,280,000 Preferred dividends 0 0 There were 77,120,000 shares outstanding What was the company's earnings per share for each year?

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Timothy Gallagher · Answer 1

EPS

2021 $0.00083 per share or 0.083 cents per share

2020 $0.0011 per share or 0.11 cents per share

Explanation:

Share outstanding at the end of 2020 = 77,120,000 shares

2022 2021

Net sales $1,121,000 $1,128,400

Net income (loss) $76,329 $61,171

Total assets $855,338 $838,078

Shares outstanding at year-end 68,500,000 70,280,000

Average outstanding share 69,390,000 73,700,000

Earning per share $0.0011 $0.00083

Working:

Earning Per share = Net income / Average Number of share

2021

Earning Per share = $61,171 / 73,700,000 = $0.00083 = 0.083 cents

2022

Earning Per share = $76,329 / 69,390,000 = $0.0011 = 0.11 cents