Maverick Company’s 2016 Income Statement: Sales Revenue $915,000 COGS (444,000) Selling and Admin.

The company held 18,000 shares of Treasury Stock on December 31, 2016;

1.[20 points] What was Maverick’s 2016 EPS (Earnings Per Share) ? Show your work.

2. [20 points] In 2017 Maverick decided to buy back (repurchase) 10,000 shares of their stock for $22.00 per share. There were no other stock related transactions in 2017. Assume Maverick’s reported 2017 Net Income was the same as in 2016. What was Mavericks EPS in 2017 ?