Computing earnings per share Faccone Academy Surplus had 50,000 shares of common stock and 9,000 shares of 20%, $15 par value preferred stock outstanding through December 31, 2018. Income from continuing operations for 2018 was $711,000, and loss on discontinued operations (net of income tax saving) was $36,000. Compute Faccone’s earnings per share for 2018, starting with income from continuing operations. Round to the nearest cent.
Computing earnings per share Faccone Academy Surplus had 50,000 shares of common stock and 9,000 shares of 20%, $15 par value preferred stock outstanding through December 31, 2018. Income from continuing operations for 2018 was $711,000, and loss on discontinued operations (net of income tax saving) was $36,000. Compute Faccone’s earnings per share for 2018, starting with income from continuing operations. Round to the nearest cent.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Computing earnings per share
Faccone Academy Surplus had 50,000 shares of common stock and 9,000 shares of 20%, $15 par value
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