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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
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