10 May HOW WOULD THIS AFFECT YOUR CALCULATION OF EARNINGS PER SHARE?
Exercise 2-7 (Essay)Suppose the following information is available for Callaway Golf Companyfor the years 2017 and 2016. (Dollars are in thousands except share information.)2017 2016Net sales $ 1 117 204 $ 1 124 591Net income (loss) 66 176 54 587Total assets 855 338 838 078Share informationShares outstanding at year-end 64 507 000 66 282 000Preferred dividends 0 02017 Earnings per share$1.012016 Earnings per share$0.78There were 73 139 000 shares outstanding at the end of 2015.1.How did the company’s profitability change from 2016 to 2017?2.Suppose the company had paid dividends on preferred stock and on common stock during the year. How would this affect your calculation of earnings per share?
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