Montrose Construction Ltd. had 64,000 common shares and 22,000 preferred shares outstanding on December 31, 2019 . On April 30, 2020, the company issued 6,200 additional common shares and split the common shares 2 for 1 on December 1, 2020. There were no other share issuances and no share repurchases during the year ended December 31, 2020. Income for the year from continuing operations was $74,000, and loss on discontinued operations (net of income tax) was $5,500. Required: Compute Construction Ltd.'s EPS amounts for the year ended December 31, 2020. (Hold all decimals in interim calculations. Round your final answers to the nearest cent. Use parentheses or a minus sign when subtracting numbers.) Earnings per share: Income from continuing operations Loss on discontinued operations Net income
Montrose Construction Ltd. had 64,000 common shares and 22,000 preferred shares outstanding on December 31, 2019 . On April 30, 2020, the company issued 6,200 additional common shares and split the common shares 2 for 1 on December 1, 2020. There were no other share issuances and no share repurchases during the year ended December 31, 2020. Income for the year from continuing operations was $74,000, and loss on discontinued operations (net of income tax) was $5,500. Required: Compute Construction Ltd.'s EPS amounts for the year ended December 31, 2020. (Hold all decimals in interim calculations. Round your final answers to the nearest cent. Use parentheses or a minus sign when subtracting numbers.) Earnings per share: Income from continuing operations Loss on discontinued operations Net income
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter13: Earnings Per Share (eps)
Section: Chapter Questions
Problem 2R: Ponce Towers, Inc., had 50,000 shares of common stock and 10,000 shares of 100 par value, 8%...
Related questions
Question
Montrose Construction Ltd. had 64,000 common shares and 22,000 preferred shares outstanding on December 31, 2019 . On April 30, 2020, the company issued 6,200 additional common shares and split the common shares 2 for 1 on December 1, 2020. There were no other share issuances and no share repurchases during the year ended December 31, 2020. Income for the year from continuing operations was $74,000, and loss on discontinued operations (net of income tax) was $5,500.
Required:
Compute Construction Ltd.'s EPS amounts for the year ended December 31, 2020.
(Hold all decimals in interim calculations. Round your final answers to the nearest cent. Use parentheses or a minus sign when subtracting numbers.)
Earnings per share:
Income from continuing operations
Loss on discontinued operations
Net income
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning