On May 14, 2025, Blossom realized a $88,800 (before taxes) gain on discontinued operations. On December 31, 2025, Blossom recorded income of $274,800 from continuing operations. Assuming a 25% tax rate, compute the basic earnings per share data that should appear on the financial statements of Blossom Industries as of December 31, 2025. (Round answers to 2 decimal places, eg. 2.55) BLOFFON
On May 14, 2025, Blossom realized a $88,800 (before taxes) gain on discontinued operations. On December 31, 2025, Blossom recorded income of $274,800 from continuing operations. Assuming a 25% tax rate, compute the basic earnings per share data that should appear on the financial statements of Blossom Industries as of December 31, 2025. (Round answers to 2 decimal places, eg. 2.55) BLOFFON
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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subject-Accounting
![BLOSSOM INDUSTRIES
Income Statement
LA
EA](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc7fe5a73-45e4-4166-8ba1-50e355550dfc%2Fac6d2be1-865f-47c1-8faf-5d6b0675cdf1%2Fsep2nfz_processed.jpeg&w=3840&q=75)
Transcribed Image Text:BLOSSOM INDUSTRIES
Income Statement
LA
EA
![On January 1, 2025, Blossom Industries had stock outstanding as follows.
6% Cumulative preferred stock, $100 par value, issued and outstanding 9,800 shares
Common stock, $10 par value, issued and outstanding 206,000 shares
To acquire the net assets of three smaller companies, Blossom authorized the issuance of an additional 158,400 common shares. The
acquisitions took place as shown below.
Date of Acquisition
Company A April 1, 2025
Company B July 1, 2025
Company C October 1, 2025
Shares Issued
48,000
80,400
30,000
$980,000
2,060,000
On May 14, 2025, Blossom realized a $88,800 (before taxes) gain on discontinued operations. On December 31, 2025, Blossom
recorded income of $274,800 from continuing operations.
Assuming a 25% tax rate, compute the basic earnings per share data that should appear on the financial statements of Blossom
Industries as of December 31, 2025. (Round answers to 2 decimal places, e.g. 2.55.)
BLOSSOM INDUSTRIES
Income Statement](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc7fe5a73-45e4-4166-8ba1-50e355550dfc%2Fac6d2be1-865f-47c1-8faf-5d6b0675cdf1%2Fx1gucl4_processed.jpeg&w=3840&q=75)
Transcribed Image Text:On January 1, 2025, Blossom Industries had stock outstanding as follows.
6% Cumulative preferred stock, $100 par value, issued and outstanding 9,800 shares
Common stock, $10 par value, issued and outstanding 206,000 shares
To acquire the net assets of three smaller companies, Blossom authorized the issuance of an additional 158,400 common shares. The
acquisitions took place as shown below.
Date of Acquisition
Company A April 1, 2025
Company B July 1, 2025
Company C October 1, 2025
Shares Issued
48,000
80,400
30,000
$980,000
2,060,000
On May 14, 2025, Blossom realized a $88,800 (before taxes) gain on discontinued operations. On December 31, 2025, Blossom
recorded income of $274,800 from continuing operations.
Assuming a 25% tax rate, compute the basic earnings per share data that should appear on the financial statements of Blossom
Industries as of December 31, 2025. (Round answers to 2 decimal places, e.g. 2.55.)
BLOSSOM INDUSTRIES
Income Statement
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