The Esposito Import Company had 1 million shares of common stock outstanding dur

Question

The Esposito Import Company had 1 million shares of common stock outstanding during 2016. Its income statement reported the following items: income from continuing operations, $14 million; loss from discontinued operations, $2.7 million; extraordinary gain, $3.3 million. All of these amounts are net of tax.

Prepare the 2016 EPS presentation for the Esposito Import Company. (Amounts to be deducted should be indicated with a minus sign. Round your answers to 2 decimal places.)

The Esposito Import Company had 1 million shares of common stock outstanding during 2016. Its income statement reported the following items: income from continuing operations, $14 million; loss from discontinued operations, $2.7 million; extraordinary gain, $3.3 million. All of these amounts are net of tax.

Explanation / Answer

Prepare the 2016 EPS presentation for the Esposito Import Company.

EPS on income from continuing operations (14/1) 14 per share EPS on loss on discontinued operations (2.7/1) -2.7 per share EPS on Net income (14-2.7+3.3)/1 14.6 per share

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