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, $4 million; loss from discontinued operations, $1.7 million; extraordinary gain, $2.3 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, $4 million; loss from discontinued operations, $1.7 million; extraordinary gain, $2.3 million. All of these amounts are net of tax.

Explanation / Answer

Earnings per share: Income from continuing operations $4.0 Loss from discontinued operations ($1.7) Net income $2.3

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