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.
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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
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.
Expert Solution
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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