Ace Company had 200,000 shares of common stock outstanding on December 31, 2021. During the year 2022, the company issued 8,000 shares on May 1 and retired 14,000 shares on October 31. For the year 2022, Ace Company reported net income of $249,690 after a loss from discontinued operations of $40,600 (net of tax). Instructions What earnings per share data should be reported at the bottom of its income statement?
Ace Company had 200,000 shares of common stock outstanding on December 31, 2021. During the year 2022, the company issued 8,000 shares on May 1 and retired 14,000 shares on October 31. For the year 2022, Ace Company reported net income of $249,690 after a loss from discontinued operations of $40,600 (net of tax). Instructions What earnings per share data should be reported at the bottom of its income statement?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Ace Company had 200,000 shares of common stock outstanding on December 31, 2021. During the year 2022, the company issued 8,000 shares on May 1 and retired 14,000 shares on October 31. For the year 2022, Ace Company reported net income of $249,690 after a loss from discontinued operations of $40,600 (net of tax).
Instructions
What earnings per share data should be reported at the bottom of its income statement?
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