The following information relates to Perry Corporation for the year ended 2009 December 31: Common stock outstanding 75,000 shares Income from continuing operations $1,523,200 Loss on discontinued operations (net of tax) 240,000 Extraordinary gain (net of tax) 144,000 Calculate EPS for the year ended 2009 December 31. Present the information in the same format used in the corporation’s income statement.
The following information relates to Perry Corporation for the year ended 2009 December 31: Common stock outstanding 75,000 shares Income from continuing operations $1,523,200 Loss on discontinued operations (net of tax) 240,000 Extraordinary gain (net of tax) 144,000 Calculate EPS for the year ended 2009 December 31. Present the information in the same format used in the corporation’s income statement.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 8RE
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Question
The following information relates to Perry Corporation for the year ended 2009 December 31:
| Common stock outstanding 75,000 shares |
| Income from continuing operations $1,523,200 |
| Loss on discontinued operations (net of tax) 240,000 |
| Extraordinary gain (net of tax) 144,000 |
Calculate EPS for the year ended 2009 December 31. Present the information in the same format used in the corporation’s income statement.
Expert Solution
Step 1
Earnings per share (EPS):
The amount of net income available to each shareholder per common share outstanding is referred to as earnings per share (EPS).
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