The net income reported on the income statement of Cutler Co. was $4,000,000. There were 500,000 shares of $10 par common stock and 100,000 shares of $2 preferred stock outstanding throughout the current year. The income statement included a gain on discontinued operations of $400,000 after applicable income tax. a. Determine the per- share figure for common stock income before discontinue operation. round your answer to the nearest whole cent. $ Per share B. Determine the per- share figure got common stock for net income. Round your answe to the nearest whole cent $ Per share
The net income reported on the income statement of Cutler Co. was $4,000,000. There were 500,000 shares of $10 par common stock and 100,000 shares of $2 preferred stock outstanding throughout the current year. The income statement included a gain on discontinued operations of $400,000 after applicable income tax. a. Determine the per- share figure for common stock income before discontinue operation. round your answer to the nearest whole cent. $ Per share B. Determine the per- share figure got common stock for net income. Round your answe to the nearest whole cent $ Per share
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 23E
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The net income reported on the income statement of Cutler Co. was $4,000,000. There were 500,000 shares of $10 par common stock and 100,000 shares of $2
a. Determine the per- share figure for common stock income before discontinue operation. round your answer to the nearest whole cent.
$ Per share
B. Determine the per- share figure got common stock for net income. Round your answe to the nearest whole cent
$ Per share
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