Earnings per share amounts are reported for: A)All of the above answers are correct. B)net income....
Earnings per share amounts are reported for:
A)All of the above answers are correct.
B)net income.
C)extraordinary items.
D)discontinued operations.
Homework Answers
Yes earning per share is calculated for three category :
a) Net income
b) Extraordinary items
c) Discontinued operations
So answer is a) All of the above answers are correct
Add Answer to:
Earnings per share amounts are reported for:
A)All of the above answers are correct.
B)net income....
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...
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...
The Esposito Import Company had 1 million shares of common stock outstanding during 2021. Its income...
The Esposito Import Company had 1 million shares of common stock outstanding during 2021. Its income statement reported the following items: income from continuing operations, $4 million loss from discontinued operations, $17 million. All of these amounts are net of tax Required: Prepare the 2021 EPS presentation for the Esposito Import Company. (Amounts to be deducted should be indicated with a minus sign. Round your answers to 2 decimal places.) Earnings per share Income from continuing operations Loss from discontinued...
Need answers $(8-480 $(16,026) Extraordinary loss on extinguishment of debt . . . . . ....
Need answers
$(8-480 $(16,026) Extraordinary loss on extinguishment of debt . . . . . . . . . Loss from continuing operations Income from discontinued operations Preferred stock dividend requirements. Weighted-average number of shares of common stock outstanding . . . . 39,739 . .. Instructions a. Rearrange the items to present in good form the last portion of the income statement for Ege b. Calculate the amount of net loss per share for the period. (Do not calculate...
Problem #7 - Earnings Per Share (10 points) In 2017, Esther Corporation reported net income of...
Problem #7 - Earnings Per Share (10 points) In 2017, Esther Corporation reported net income of $500,000. It declared and paid preferred stock dividends of $180,000 and common stock dividends of $60,000. During 2017, Esther had a weighted average of 250,000 common shares outstanding. Compute Esther's 2017 earnings per share. Earnings Per Share = B. Norling Corporation reports the following information: Net income $850,000 Dividends on common stock $210,000 Dividends on preferred stock $ 90,000 Weighted average common shares outstanding...
work 6 Saved my work mode: This shows what is correct or incorrect for the work...
work 6 Saved my work mode: This shows what is correct or incorrect for the work you have completed The Esposito Import Company had 1 million shares of common stock outstanding during 2016. Its income statement reported the following items: income from continuing operations, $5 million; loss from discontinued operations, $1.6 million. All of these amounts are net of tax. Required: Prepare the 2016 EPS presentation for the Esposito Import Company. (Amounts to be deducted should be indicated with a...
5.) Discontinued operations are reported as follows on the income statement: A. Wherever the preparer of...
5.) Discontinued operations are reported as follows on the income statement: A. Wherever the preparer of the statements chooses to report them. B. Before income from continuing operations. C. After income from continuing operations. D. After gross profit. 6.) With regard to the NEW rules, extraordinary items: A. Must be unusual in nature to be classified as extraordinary. B. Must occur infrequently to be classified as extraordinary. OC. Must be unusual in nature AND occur infrequently to be classified as...
Question 21 Not yet answered Marked out of 1.00 Flag question Which of the following per...
Question 21 Not yet answered Marked out of 1.00 Flag question Which of the following per share amounts would be reported in a company with no preferred stock and no discontinued operations? Select one: a. Earnings per share - Gross profit b. Earnings per share – Income from continuing operations c. Earnings per share - Net income d. A and B e. A and C f. B and C g. A, B, and c
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 $5,720,000 S542,100 Continuing operations: Net sales Cost and expenses (including income taxes) Other data: Current-year profit generated by segment of the business discontinued in May (net of income taxes) Gain on disposal of discontinued segment (net of income taxes) Prior-period adjustment (decrease in prior years' income net of tax benefit) Non-recurring loss (net of income tax benefit) Cash...
Presented below is a combined single-step income and retained earnings statement for Hardrock Mining Co. for...
Presented below is a combined single-step income and retained earnings statement for Hardrock Mining Co. for 20X1. Statement of Income and Retained Earnings for the Year Ended December 31, 20X1 ($ in 000) Net sales $5,281,954 Costs and expenses Cost of products sold 4,765,505 Marketing, administrative, and other expenses 193, 147 Interest expense 17,143 Other, net 54,529 Total expenses before taxes 5,030, 324 Earnings before income taxes 251,630 Provision for income taxes (52,842) Net income 198,788 Retained earnings at 1/1/20x1...
The Esposito Import Company had 1 million shares of common stock outstanding during 2021. Its income statement reported the following items: income from continuing operations, $4 million loss from discontinued operations, $17 million. All of these amounts are net of tax Required: Prepare the 2021 EPS presentation for the Esposito Import Company. (Amounts to be deducted should be indicated with a minus sign. Round your answers to 2 decimal places.) Earnings per share Income from continuing operations Loss from discontinued...
Need answers
$(8-480 $(16,026) Extraordinary loss on extinguishment of debt . . . . . . . . . Loss from continuing operations Income from discontinued operations Preferred stock dividend requirements. Weighted-average number of shares of common stock outstanding . . . . 39,739 . .. Instructions a. Rearrange the items to present in good form the last portion of the income statement for Ege b. Calculate the amount of net loss per share for the period. (Do not calculate...
Problem #7 - Earnings Per Share (10 points) In 2017, Esther Corporation reported net income of $500,000. It declared and paid preferred stock dividends of $180,000 and common stock dividends of $60,000. During 2017, Esther had a weighted average of 250,000 common shares outstanding. Compute Esther's 2017 earnings per share. Earnings Per Share = B. Norling Corporation reports the following information: Net income $850,000 Dividends on common stock $210,000 Dividends on preferred stock $ 90,000 Weighted average common shares outstanding...
work 6 Saved my work mode: This shows what is correct or incorrect for the work you have completed The Esposito Import Company had 1 million shares of common stock outstanding during 2016. Its income statement reported the following items: income from continuing operations, $5 million; loss from discontinued operations, $1.6 million. All of these amounts are net of tax. Required: Prepare the 2016 EPS presentation for the Esposito Import Company. (Amounts to be deducted should be indicated with a...
5.) Discontinued operations are reported as follows on the income statement: A. Wherever the preparer of the statements chooses to report them. B. Before income from continuing operations. C. After income from continuing operations. D. After gross profit. 6.) With regard to the NEW rules, extraordinary items: A. Must be unusual in nature to be classified as extraordinary. B. Must occur infrequently to be classified as extraordinary. OC. Must be unusual in nature AND occur infrequently to be classified as...
Question 21 Not yet answered Marked out of 1.00 Flag question Which of the following per share amounts would be reported in a company with no preferred stock and no discontinued operations? Select one: a. Earnings per share - Gross profit b. Earnings per share – Income from continuing operations c. Earnings per share - Net income d. A and B e. A and C f. B and C g. A, B, and c
24) (6 points) Income statement and earnings per share Shown below is information relating to operations of Broadway Industries for 2018: $6,500,000 $5,720,000 S542,100 Continuing operations: Net sales Cost and expenses (including income taxes) Other data: Current-year profit generated by segment of the business discontinued in May (net of income taxes) Gain on disposal of discontinued segment (net of income taxes) Prior-period adjustment (decrease in prior years' income net of tax benefit) Non-recurring loss (net of income tax benefit) Cash...
Presented below is a combined single-step income and retained earnings statement for Hardrock Mining Co. for 20X1. Statement of Income and Retained Earnings for the Year Ended December 31, 20X1 ($ in 000) Net sales $5,281,954 Costs and expenses Cost of products sold 4,765,505 Marketing, administrative, and other expenses 193, 147 Interest expense 17,143 Other, net 54,529 Total expenses before taxes 5,030, 324 Earnings before income taxes 251,630 Provision for income taxes (52,842) Net income 198,788 Retained earnings at 1/1/20x1...
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