Earlyrain Inc.'s 2023 income statement, excluding the earnings per share portion of the statement, was as follows: Revenues Expenses: Depreciation Income taxes Other expenses Profit from continuing operations Loss from operating discontinued business segment (net of $15,000 tax benefit) Loss on sale of business segment. (net of $7,820 tax benefit) Profit Profit from continuing operations Loss from discontinued operations Profit Basic $ 41,500 53,000 165,000 259,500 $130,500 $ 45,000 $390,000 18,600 The weighted-average number of common shares outstanding during the year was 100,000. Present the earnings per share portion of the 2023 income statement. (Round the final answers to 2 decimal places. Loss should be entered with negative sign.) (63,600) $ 66,900
Earlyrain Inc.'s 2023 income statement, excluding the earnings per share portion of the statement, was as follows: Revenues Expenses: Depreciation Income taxes Other expenses Profit from continuing operations Loss from operating discontinued business segment (net of $15,000 tax benefit) Loss on sale of business segment. (net of $7,820 tax benefit) Profit Profit from continuing operations Loss from discontinued operations Profit Basic $ 41,500 53,000 165,000 259,500 $130,500 $ 45,000 $390,000 18,600 The weighted-average number of common shares outstanding during the year was 100,000. Present the earnings per share portion of the 2023 income statement. (Round the final answers to 2 decimal places. Loss should be entered with negative sign.) (63,600) $ 66,900
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Earlyrain Inc.'s 2023 income statement, excluding the earnings per share portion of the statement, was as follows:
Revenues
Expenses:
Depreciation
Income taxes
Other expenses
Profit from continuing operations
Loss from operating discontinued business segment
(net of $15,000 tax benefit)
Loss on sale of business segment
(net of $7,820 tax benefit)
Profit
Profit from continuing operations
Loss from discontinued operations
Profit
$ 41,500
53,000
165,000
Basic
$ 45,000
18,600
$390,000
259,500
$130,500
The weighted-average number of common shares outstanding during the year was 100,000. Present the earnings per share portion of
the 2023 income statement. (Round the final answers to 2 decimal places. Loss should be entered with negative sign.)
(63,600)
$ 66,900
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