Question 4 of 5View PoliciesShow Attempt HistoryCurrent Attempt in Progress<Your answer is partially correct.Net incomeA portion of the combined statement of income and retained earnings of Blossom Inc. for the current year follows.Income from continuing operationsLoss from discontinued operations, net of applicable income tax (Note 1)>Dividends declared:Retained earnings at the beginning of the yearOn preferred stock-$6.00 per shareOn common stock-$1.75 per shareRetained earnings at the end of the yearNet Income /(Loss)BLOSSOM INC.Income StatementFor the Year Ended December 31Income from Continuing OperationsLoss from Discontinued Operations$276,00014,850,000eTextbook and Media$Note 1. During the year, Blossom Inc. suffered a major loss from discontinued operations of $1,325,200 after applicable income taxreduction of $1,190,000.$15,018,850At the end of the current year, Blossom Inc. has outstanding 8,530,000 shares of $10 par common stock and 46,000 shares of 6%preferred. On April 1 of the current year, Blossom Inc. issued 990,000 shares of common stock for $33 per share to help finance theloss from discontinued operations.1.451,325,200Compute the earnings per share on common stock for the current year as it should be reported to stockholders. (Round answer to 2decimal places, e.g. 2.55.)0.1413,693,65084,640,0001.3198,333,65015,126,0002.86/5$83,207,650!!!***

Earnings per share are also referred to as EPS is computed by dividing the earnings attributable to…

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Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter18: Acquiring Capital For Growth And Development

Section18.3: Capital Stock

Problem 1OYO

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View Policies Current Attempt in Progress Retained earnings is increased by each of the following except O prior period adjustments. O some disposals of treasury stock. Chall of these increase retained earnings. O net income. eTextbook and Media Save for Later Attempts: 0 of 2 %23 24 2 3 4. 8 W e y h a
Un=nttps%253A%252F%252Flms.mheducation.com%252F... Pa hapter 16, 17, 18) 6 Saved Help Save & Exit Submit The shareholders' equity section of Time Company's comparative balance sheets for the years ended December 31, 2021 and 2020, reported the following data: ($ in millions) 2021 2020 $600 300 600 $612 Common stock, $1 par per share Paid-in capital-excess of par Retained earnings 348 628 During 2021, Time declared and paid cash dividends of $90 million. The company also declared and issued a small stock dividend. No other changes occurred in shares outstanding during 2021. What was Time's net income for 2021? Multiple Choice $28 million $130 million $118 million Next 30 of 39 < Prev Question no...pages nages
Question 13 View Policies Current Attempt in Progress Bonita Corporation reports net income of $576,000 and a weighted-average of 240,000 shares of common stock outstanding for the year. Compute the earnings per share of common stock. (Round answer to 2 decimal places, e.g. 2.25.) Earnings per share $
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Compute the earnings per share on common stock for the current year as it should be reported to stockholders. (Round answer to 2 decimal places, e.g. 2.55.)