Acific gas and electric: earnings per share pacific gas and electric company is a large gas and electric utility operating in northern and central california. three recent years of financial data for pacific gas and electric are as follows (in millions): year 3 year 2 year 1 net income $1,450 $828 $830 preferred dividends 14 14 14 average number of common shares outstanding 468 444 424 a. determine the earnings per share for years 1–3. round your answers to two decimal places. year 3 year 2 year 1 eps $ $ $ b. interpret the trend in earnings per share using horizontal analysis for the three years in terms of the change in earnings and average shares outstanding.