Computing earnings per share Faccone Academy Surplus had 50,000 shares of common stock and 9,000 shares of 20%, $15 par value preferred stock outstanding through December 31, 2018. Income from continuing operations for 2018 was $711,000, and loss on discontinued operations (net of income tax saving) was $36,000. Compute Faccone’s earnings per share for 2018, starting with income from continuing operations. Round to the nearest cent.

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Computing earnings per share

Faccone Academy Surplus had 50,000 shares of common stock and 9,000 shares of 20%, $15 par value preferred stock outstanding through December 31, 2018. Income from continuing operations for 2018 was $711,000, and loss on discontinued operations (net of income tax saving) was $36,000. Compute Faccone’s earnings per share for 2018, starting with income from continuing operations. Round to the nearest cent.

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