Earnings per Share Mangold Corporation reported income from continuing operations of $76,800 and loss from discontinuing...
Earnings per Share
Mangold Corporation reported income from continuing operations of $76,800 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. Round your answers to the nearest cent.
| MANGOLD CORPORATION | |
| Income Statement (Partial) | |
| For Year Ended December 31, Current Year | |
| Components of Income | EPS |
| Income from continuing operations | $ |
| Loss from discontinued operations | $ |
| Net income | $ |
Homework Answers
| MANGOLD CORPORATION | |
| Income Statement (Partial) | |
| For Year Ended December 31, Current Year | |
| Components of Income | EPS |
| Income from continuing operations (76800/80000) | $0.96 |
| Loss from discontinued operations (6400/80000) | $(0.08) |
| Net income | $0.88 |
Add Answer to:
Earnings per Share
Mangold Corporation reported income from continuing operations
of $76,800 and loss from discontinuing...
Income Statement Pallest Corporation reported the following pretax information for its current fiscal year: $40,000 income...
Income Statement Pallest Corporation reported the following pretax information for its current fiscal year: $40,000 income from continuing operations and an $8,000 loss arising from discontinuing a segment (it was simply closed, no gain or loss on sale). Pallest is subject to a 30% income tax rate and had 8,000 shares of common stock outstanding for the year. Starting with pretax income from continuing operations, prepare a partial income statement for Pallest for the current year. Be sure to include...
Income Statement and Earnings per Share for Discontinued Operations Apex Inc. reports the following for a...
Income Statement and Earnings per Share for Discontinued Operations Apex Inc. reports the following for a recent year: Income from continuing operations before income tax expense $1,000,000 Loss from discontinued operations $240,000* Weighted average number of shares outstanding 20,000 Applicable tax rate 40% *Net of any tax effect. a. Prepare a partial income statement for Apex Inc., beginning with income from continuing operations before income tax expense. Apex Inc. Partial Income Statement For the Year Ended December 31 Income from...
Please show Calculation how you got to the final product Sunland Corporation had income from continuing...
Please show Calculation how you got to the final product
Sunland Corporation had income from continuing operations of $10,863,600 in 2020. During 2020, it disposed of its restaurant division at an after-tax loss of $207,500. Prior to disposal, the division operated at a loss of $325,000 (net of tax) in 2020 (assume that the disposal of the restaurant division meets the criteria for recognition as a discontinued operation). Sunland had 10,000,000 shares of common stock outstanding during 2020. Prepare a...
Blue Corporation had income from continuing operations of $10,634,000 in 2017. During 2017, it disposed of...
Blue Corporation had income from continuing operations of
$10,634,000 in 2017. During 2017, it disposed of its restaurant
division at an after-tax loss of $206,700. Prior to disposal, the
division operated at a loss of $320,700 (net of tax) in 2017
(assume that the disposal of the restaurant division meets the
criteria for recognition as a discontinued operation). Blue had
10,000,000 shares of common stock outstanding during 2017. Prepare
a partial income statement for Blue beginning with income from
continuing...
Teal Corporation had income from continuing operations of $10,685,300 in 2017. During 2017, it disposed of...
Teal Corporation had income from continuing operations of $10,685,300 in 2017. During 2017, it disposed of its restaurant division at an after-tax loss of $207,200. Prior to disposal, the division operated at a loss of $315,300 (net of tax) in 2017 (assume that the disposal of the restaurant division meets the criteria for recognition as a discontinued operation). Teal had 10,000,000 shares of common stock outstanding during 2017. Prepare a partial income statement for Teal beginning with income from continuing...
24) (6 points) Income statement and earnings per share Shown below is information relating to operations...
24) (6 points) Income statement and earnings per share Shown below is information relating to operations of Broadway Industries for 2018: $6,500,000 $5,720,000 S542,100 Continuing operations: Net sales Cost and expenses (including income taxes) Other data: Current-year profit generated by segment of the business discontinued in May (net of income taxes) Gain on disposal of discontinued segment (net of income taxes) Prior-period adjustment (decrease in prior years' income net of tax benefit) Non-recurring loss (net of income tax benefit) Cash...
The Culver Corporation had income from continuing operations of $13 million in 2020. During 2020, it...
The Culver Corporation had income from continuing operations of $13 million in 2020. During 2020, it disposed of its restaurant division at a loss of $80,000 (net of tax of $38,000). Before the disposal, the division operated at a loss of $220,000 (net of tax of $135,000) in 2020. Blue Collar also had an unrealized gain-OCI of $43,000 (net of tax of $18,000) related to its FV-OCI equity investments. Culver had 10 million common shares outstanding during 2020. Prepare a...
Sage Hill Inc reported income from continuing operations before taxes during 2017 of $2,300,000. Additional transactions...
Sage Hill Inc reported income from continuing operations before taxes during 2017 of $2,300,000. Additional transactions occurring in 2017 but not considered in the $2,300,000 are as follows. 1. Again of $107.000 (pretax) as a result of selling securities from its investment portfolio. 2. A $24,000 loss before taxes as a result of operating the discontinued clothing division during 2017 3. A loss of $66,000 before taxes as a result of disposing of its clothing division. Assume that this transaction...
Maher Inc. reported income from continuing operations before taxes during 2020 of $790,000. Additional transactions occurring...
Maher Inc. reported income from continuing operations before taxes during 2020 of $790,000. Additional transactions occurring in 2020 but not used in computing the $790,000 are as follows. > Sale of securities held as a part of its portfolio resulted in a loss of $57,000 (pretax). > When its president died, the corporation realized $150,000 from an insurance policy. The cash surrender value of this policy had been carried on the books as an investment in the amount of $46,000....
Pina Colada Inc. reported income from continuing operations before tax of $2,058,500 during 2020. Additional transactions...
Pina Colada Inc. reported income from continuing operations before tax of $2,058,500 during 2020. Additional transactions occurring in 2020 but not included in the $2,058,500 were as follows: 1. The corporation experienced an insured flood loss of $92,000 during the year. 2. At the beginning of 2018, the corporation purchased a machine for $70,800 (residual value of $17,400) that has a useful life of six years. The bookkeeper used straight-line depreciation for 2018, 2019, and 2020, but failed to deduct...
Income Statement Pallest Corporation reported the following pretax information for its current fiscal year: $40,000 income from continuing operations and an $8,000 loss arising from discontinuing a segment (it was simply closed, no gain or loss on sale). Pallest is subject to a 30% income tax rate and had 8,000 shares of common stock outstanding for the year. Starting with pretax income from continuing operations, prepare a partial income statement for Pallest for the current year. Be sure to include...
Please show Calculation how you got to the final product
Sunland Corporation had income from continuing operations of $10,863,600 in 2020. During 2020, it disposed of its restaurant division at an after-tax loss of $207,500. Prior to disposal, the division operated at a loss of $325,000 (net of tax) in 2020 (assume that the disposal of the restaurant division meets the criteria for recognition as a discontinued operation). Sunland had 10,000,000 shares of common stock outstanding during 2020. Prepare a...
Blue Corporation had income from continuing operations of
$10,634,000 in 2017. During 2017, it disposed of its restaurant
division at an after-tax loss of $206,700. Prior to disposal, the
division operated at a loss of $320,700 (net of tax) in 2017
(assume that the disposal of the restaurant division meets the
criteria for recognition as a discontinued operation). Blue had
10,000,000 shares of common stock outstanding during 2017. Prepare
a partial income statement for Blue beginning with income from
continuing...
Teal Corporation had income from continuing operations of $10,685,300 in 2017. During 2017, it disposed of its restaurant division at an after-tax loss of $207,200. Prior to disposal, the division operated at a loss of $315,300 (net of tax) in 2017 (assume that the disposal of the restaurant division meets the criteria for recognition as a discontinued operation). Teal had 10,000,000 shares of common stock outstanding during 2017. Prepare a partial income statement for Teal beginning with income from continuing...
24) (6 points) Income statement and earnings per share Shown below is information relating to operations of Broadway Industries for 2018: $6,500,000 $5,720,000 S542,100 Continuing operations: Net sales Cost and expenses (including income taxes) Other data: Current-year profit generated by segment of the business discontinued in May (net of income taxes) Gain on disposal of discontinued segment (net of income taxes) Prior-period adjustment (decrease in prior years' income net of tax benefit) Non-recurring loss (net of income tax benefit) Cash...
Sage Hill Inc reported income from continuing operations before taxes during 2017 of $2,300,000. Additional transactions occurring in 2017 but not considered in the $2,300,000 are as follows. 1. Again of $107.000 (pretax) as a result of selling securities from its investment portfolio. 2. A $24,000 loss before taxes as a result of operating the discontinued clothing division during 2017 3. A loss of $66,000 before taxes as a result of disposing of its clothing division. Assume that this transaction...
Maher Inc. reported income from continuing operations before taxes during 2020 of $790,000. Additional transactions occurring in 2020 but not used in computing the $790,000 are as follows. > Sale of securities held as a part of its portfolio resulted in a loss of $57,000 (pretax). > When its president died, the corporation realized $150,000 from an insurance policy. The cash surrender value of this policy had been carried on the books as an investment in the amount of $46,000....
Pina Colada Inc. reported income from continuing operations before tax of $2,058,500 during 2020. Additional transactions occurring in 2020 but not included in the $2,058,500 were as follows: 1. The corporation experienced an insured flood loss of $92,000 during the year. 2. At the beginning of 2018, the corporation purchased a machine for $70,800 (residual value of $17,400) that has a useful life of six years. The bookkeeper used straight-line depreciation for 2018, 2019, and 2020, but failed to deduct...
Most questions answered within 3 hours.
-
For Dijkstra’s shortest path algorithm:
a. Give the Big-O time for Dijkstra’s shortest path algorithm
and...
asked 1 minute from now -
Phosphorus violates the 'octet rule' in biological molecules,
forming more covalent bonds than expected based on...
asked 1 minute ago -
A 1.3 eV electron has a 10-4 probability of tunneling
through a 2.4 eV potential barrier....
asked 19 minutes ago -
What is the one ingredient that is common to being successful
with all stakeholders?
profit
trust...
asked 18 minutes ago -
Write an assembly language 32 bit program that reads in lines of
text by a .txt...
asked 21 minutes ago -
what is the density ( in g/L) of hydrogen gas at 29 degrees C and a...
asked 30 minutes ago -
5-6. You are considering three investment alternatives for some
spare cash: Old Reliable Corporation stock (A1),...
asked 21 minutes ago -
Problem 16-02
Receivables Investment
Medwig Corporation has a DSO of 45 days. The company averages
$7,250...
asked 36 minutes ago -
Mr. Brown hired Lowe's Maintenance Services Limited to repair
and paint the exterior wall of his...
asked 37 minutes ago -
When might an index slow down the overall performance of the
database? Choose the best answer....
asked 42 minutes ago -
Due to a recession, expected inflation this year is only 2.25%.
However, the inflation rate in...
asked 43 minutes ago -
Write four functions: (IN PYTHON 3)
1) bound(l) - given a list of integers l, compute...
asked 46 minutes ago