Montrose Construction Ltd. had 64,000 common shares and 22,000 preferred shares outstanding on December 31, 2019 . On April 30, 2020, the company issued 6,200 additional common shares and split the common shares 2 for 1 on December 1, 2020. There were no other share issuances and no share repurchases during the year ended December 31, 2020. Income for the year from continuing operations was $74,000, and loss on discontinued operations (net of income tax) was $5,500. Required: Compute Construction Ltd.'s EPS amounts for the year ended December 31, 2020. (Hold all decimals in interim calculations. Round your final answers to the nearest cent. Use parentheses or a minus sign when subtracting numbers.) Earnings per share: Income from continuing operations Loss on discontinued operations Net income
Montrose Construction Ltd. had 64,000 common shares and 22,000 preferred shares outstanding on December 31, 2019 . On April 30, 2020, the company issued 6,200 additional common shares and split the common shares 2 for 1 on December 1, 2020. There were no other share issuances and no share repurchases during the year ended December 31, 2020. Income for the year from continuing operations was $74,000, and loss on discontinued operations (net of income tax) was $5,500. Required: Compute Construction Ltd.'s EPS amounts for the year ended December 31, 2020. (Hold all decimals in interim calculations. Round your final answers to the nearest cent. Use parentheses or a minus sign when subtracting numbers.) Earnings per share: Income from continuing operations Loss on discontinued operations Net income
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter13: Earnings Per Share (eps)
Section: Chapter Questions
Problem 2R: Ponce Towers, Inc., had 50,000 shares of common stock and 10,000 shares of 100 par value, 8%...
Related questions
Question
Montrose Construction Ltd. had 64,000 common shares and 22,000 preferred shares outstanding on December 31, 2019 . On April 30, 2020, the company issued 6,200 additional common shares and split the common shares 2 for 1 on December 1, 2020. There were no other share issuances and no share repurchases during the year ended December 31, 2020. Income for the year from continuing operations was $74,000, and loss on discontinued operations (net of income tax) was $5,500.
Required:
Compute Construction Ltd.'s EPS amounts for the year ended December 31, 2020.
(Hold all decimals in interim calculations. Round your final answers to the nearest cent. Use parentheses or a minus sign when subtracting numbers.)
Earnings per share:
Income from continuing operations
Loss on discontinued operations
Net income
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![Excel Applications for Accounting Principles](https://www.bartleby.com/isbn_cover_images/9781111581565/9781111581565_smallCoverImage.gif)
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
![Intermediate Accounting: Reporting And Analysis](https://www.bartleby.com/isbn_cover_images/9781337788281/9781337788281_smallCoverImage.jpg)
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
![Excel Applications for Accounting Principles](https://www.bartleby.com/isbn_cover_images/9781111581565/9781111581565_smallCoverImage.gif)
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
![Intermediate Accounting: Reporting And Analysis](https://www.bartleby.com/isbn_cover_images/9781337788281/9781337788281_smallCoverImage.jpg)
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning