Format of an Income Statement EPS
The following information is excerpted from the financial statements in a recent annual report of Cardinal Manufacturing Corporation. (Dollar figures and shares of stock are in thousands.)
Extraordinary loss on expropriation of foreign subsidiary | $ (17,500) |
Loss from continuing operations | (38,940) |
Income from discontinued operations | 24,000 |
Preferred stock dividend requirements | (6,200) |
Weighted-average number of shares of common stock outstanding | 10,000 |
Instructions
a. Rearrange the items to present in good form the last portion of the income statement for Cardinal Manufacturing Corporation, beginning with “Loss from continuing operations.”
b. Calculate the amount of net loss per share for the period. (Do not calculate per-share amounts for subtotals, such as income from continuing operations, loss before extraordinary items, and so forth. You are required to compute only a single earnings per share amount.)
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