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a. Determine the per-share figure for common stock for income before discontinued operations. Round your answer to the nearest cent. per share b. Determine the per-share figure for common stock for net income. Round your answer to the nearest cent.

a. Determine the per-share figure for common stock for income before discontinued operations. Round your answer to the nearest cent. per share b. Determine the per-share figure for common stock for net income. Round your answer to the nearest cent.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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## Appendix: Earnings per Share, Discontinued Operations The net income reported on the income statement of Cutler Co. was $2,700,000. There were 100,000 shares of $24 par common stock and 40,000 shares of $3 preferred stock outstanding throughout the current year. The income statement included a gain on discontinued operations of $330,000 after applicable income tax. ### Tasks: a. **Determine the per-share figure for common stock for income before discontinued operations.** *Round your answer to the nearest cent.* $_______ per share b. **Determine the per-share figure for common stock for net income.** *Round your answer to the nearest cent.* $_______ per share
Transcribed Image Text:## Appendix: Earnings per Share, Discontinued Operations The net income reported on the income statement of Cutler Co. was $2,700,000. There were 100,000 shares of $24 par common stock and 40,000 shares of $3 preferred stock outstanding throughout the current year. The income statement included a gain on discontinued operations of $330,000 after applicable income tax. ### Tasks: a. **Determine the per-share figure for common stock for income before discontinued operations.** *Round your answer to the nearest cent.* $_______ per share b. **Determine the per-share figure for common stock for net income.** *Round your answer to the nearest cent.* $_______ per share
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