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Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281

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BuyFindarrow_forward

Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281
Textbook Problem
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Mangold Corporation reported income from continuing, operations of $78,400 and loss from discontinuing a segment (net of taxes) of $6,400 for the current year. Mangold had 80,000 common shares outstanding for the entire year. Show how Mangold would report its earnings per share for the current year.

To determine

Show the manner in which Corporation M would report its earnings per share for the current year.

Explanation

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).

The manner in which Corporation M would report its earnings per share is as follows:

Corporation M
Income statement (Partial)
For the year ended December 31, Current year
ParticularsEarnings per share (80,000 Common share)
Income from continuing operations (</

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