Income Statement for Xenon Manufacturing: 2008 2009 Total sales 202 212 Cost of sales minus148 minus172 Gross Profit 54 40 Selling, general, and administrative expenses minus22 minus20 Research and development minus8 minus7 Depreciation and amortization minus4 minus3 Other income 4 6 Earnings before interest and taxes (EBIT) 24 16 Interest income (expense) minus7 minus4 Pretax income 14 12 Taxes minus4 minus3 Net Income 10 9 Consider the above Income Statement for Xenon Manufacturing. All values are in millions of dollars. If Xenon Manufacturing has 30 million shares outstanding, what is its EPS in 2009?

The new york times (nov. 30, 1993) reported that “the inability of opec to agree last week to cut production has sent the oil market into turmoil . . [leading to] the lowest price for domestic crude oil since june 1990.” why were the members of opec trying to agree to cut production? so they could save more oil for future consumption so they could lower the price so they could raise the price why do you suppose opec was unable to agree on cutting production? because each country has a different production capacity because each country experiences different production costs because each country has an incentive to cheat on any agreement the newspaper also noted opec’s view “that producing nations outside the organization, like norway and britain, should do their share and cut production.” what does the phrase “do their share” suggest about opec’s desired relationship with norway and britain? opec would like norway and britain to keep their production levels high. opec would like norway and britain to act competitively. opec would like norway and britain to join the cartel.