FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The following information relates to Perry Corporation for the year ended 2009 December 31:
| Common stock outstanding 75,000 shares |
| Income from continuing operations $1,523,200 |
| Loss on discontinued operations (net of tax) 240,000 |
| Extraordinary gain (net of tax) 144,000 |
Calculate EPS for the year ended 2009 December 31. Present the information in the same format used in the corporation’s income statement.
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Step 1
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).
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