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Question - Suppose the following information is available for Callaway Golf Company for the years 2017 and 2016. (Dollars are in thousands, except share information.)
2017
2016
Net sales
$1,110,000
$1,116,700
Net income
66,100
55,500
Total assets
855,338
838,078
Share information
Shares outstanding at year-end
64,507,000
66,282,000
Preferred dividends
0
There were 73,139,000 shares outstanding at the end of 2015.
(a) What was the company's earnings per share for each year?
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Elk, a C corporation, has $500,000 operating income and $350,000 operating expenses during the year. In addition, Elk has a $20,000 long-term capital gain and a $52,000 short-term capital loss. Elk's taxable income is:
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