Except for the earnings per share statistics, the 2016, 2017, and 2018 income st

Question

Except for the earnings per share statistics, the 2016, 2017, and 2018 income statements for Ace Group Inc. were originally presented as follows:Required:

1. Calculate the 11 missing amounts. (Loss should be indicated by a minus sign.)

*No preferred shares have been issued.

2. Calculate the weighted-average number of common shares outstanding during the following years: (Do not round intermediate calculations. Round your answers to nearest whole number.)

3. Prepare the earnings per share income statement presentation during the following years: (Round your answers to 2 decimal places. Negative amounts should be indicated by a minus sign.)

2016 2017 2018 Sales $483,855 $704,040 $1,015,900 Costs and expenses 332,070 Profit from continuing operations $317,935 Gain (loss) on discontinued operations 84,660 (111,575) Profit (loss) $157,494 $537,200

Explanation / Answer

1. 11 missing amounts.

2. Weighted-Average number of common shares outstanding during the following years:

3. Earnings per share income statement presentation during the following years:

2016 2017 2018 Sales $483,855 $704,040 $1,015,900 Costs and expenses $165,920 $82,180 332,070 Profit from continuing operations $317,935 $621860 $683,830 Gain (loss) on discontinued operations $(160,441) $84,660 (111,575) Profit (loss) $157,494 $537,200 $572,255

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