On January 1, 2020, Blossom Limited had shares outstanding as follows: 5% cumulative preferred shares, $100 par value, 10,900 shares issued and outstanding $1,090,000 Common shares, 207,000 shares issued and outstanding 2,070,000 To acquire the net assets of three smaller companies, the company authorized the issuance of an additional 308,000 common shares. The acquisitions were as follows: Date of Acquisition Shares Issued Company A: April 1, 2020 168,000 Company B: July 1, 2020 85,000 Company C: October 1, 2020 55,000 On May 14, 2020, Blossom realized a $95,000 gain (before tax) on a discontinued operation from a business segment that had originally been purchased in 2000. On December 31, 2020, the company recorded income of $660,000 before tax, not including the discontinued operation gain. Blossom has a 40% tax rate. Calculate the earnings per share for 2020 as it should be reported to shareholders. (Round answer to 2 decimal places, e.g. 15.25.) Earnings per share Income before gain from discontinued operations $enter a dollar amount Discontinued operations gain net of tax $enter a dollar amount Net income $enter a total amount eTextbook and Media Assume that Blossom declared a 1-for-2 reverse stock split on February 10, 2021, and that the company’s financial statements for the year ended December 31, 2020, were issued on February 28, 2021. Calculate earnings per share for 2020 as it should be reported to shareholders. (Round answer to 2 decimal places, e.g. 15.25.) Earnings per share Income before gain from discontinued operations $enter a dollar amount Discontinued operations gain net of tax $enter a dollar amount Net income $enter a total amount
On January 1, 2020, Blossom Limited had shares outstanding as follows:
| 5% cumulative |
$1,090,000 | ||
| Common shares, 207,000 shares issued and outstanding | 2,070,000 |
To acquire the net assets of three smaller companies, the company authorized the issuance of an additional 308,000 common shares. The acquisitions were as follows:
| Date of Acquisition | Shares Issued | |||
|---|---|---|---|---|
|
Company A: April 1, 2020 |
168,000 | |||
|
Company B: July 1, 2020 |
85,000 | |||
|
Company C: October 1, 2020 |
55,000 |
On May 14, 2020, Blossom realized a $95,000 gain (before tax) on a discontinued operation from a business segment that had originally been purchased in 2000.
On December 31, 2020, the company recorded income of $660,000 before tax, not including the discontinued operation gain. Blossom has a 40% tax rate.
Calculate the earnings per share for 2020 as it should be reported to shareholders. (Round answer to 2 decimal places, e.g. 15.25.)
| Earnings per share | ||
|---|---|---|
|
Income before gain from discontinued operations |
$enter a dollar amount | |
|
Discontinued operations gain net of tax |
$enter a dollar amount | |
|
Net income |
$enter a total amount |
eTextbook and Media
Assume that Blossom declared a 1-for-2 reverse stock split on February 10, 2021, and that the company’s financial statements for the year ended December 31, 2020, were issued on February 28, 2021.
Calculate earnings per share for 2020 as it should be reported to shareholders. (Round answer to 2 decimal places, e.g. 15.25.)
| Earnings per share | ||
|---|---|---|
|
Income before gain from discontinued operations |
$enter a dollar amount | |
|
Discontinued operations gain net of tax |
$enter a dollar amount | |
|
Net income |
$enter a total amount |
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 4 images
