Earnings per share is calculated by dividing net income minus preferred stock dividends for the period by the average number of common shares outstanding during the period? True False A revenue account? is decreased by credits. is increased by debits. has a normal balance of a debit. is increased by credits. The proprietorship form of business organization? must have at least two owners in most states. is classified as a separate legal entity. generally receives favorable tax treatment relative to a corporation. combines the records of the business with the personal records of the owner.