Calculate the EPS Data Table $ 26,000 10,000 16,000 Prior-period adjustment-net

Question

Calculate the EPS

Data Table $ 26,000 10,000 16,000 Prior-period adjustment-net of taxes debit to Retained Earnings $1,000 Gain on lawsuit settlement . . . . Income tax expense (savings) Continuing operations Income from discontinued operations 25,950Treasury stock, common (5,000 shares at cost) 13,000 81,000 570,000 Income from discontinued Retained earnings, beginning, operations 20,000 181,000 Preferred stock, 6%, $30 par, 93,000 30,000 316,000 21,000 1,000 shares issued Common stock, no par, 30,000 shares authorized Dividends declared on common stock... 390,000

Explanation / Answer

Calculation of Basic Earnings per share

Basic EPS = Net income/ No. of stock outstanding

Particulars Amount Sale 570,000 COGS (316,000) Gross Profit 254,000 Loss on sale of assets (15,000) Selling expenses (93,000) Interest expense (26,000) Gain on lawsuit settlement 10,000 Dividend Revenue 16,000 General expenses (81,000) Net Profit before tax from continuing operation 65,000 Tax paid (25,950) Net Profit after tax from continuing operation 39,050 Preference Dividend (1,800) Net income from continuing operation attributable to common stock 37,250

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.