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The net income reported on the income statement of Cutler Co. was $4,000,000. There were 500,000 shares of $10 par common stock and 100,000 shares of $2 preferred stock outstanding throughout the current year. The income statement included a gain on discontinued operations of $400,000 after applicable income tax. a. Determine the per- share figure for common  stock income before discontinue operation. round your answer to the nearest whole cent.  $              Per share B. Determine the per- share figure got common stock for net income. Round your answe to the nearest whole cent  $             Per share

The net income reported on the income statement of Cutler Co. was $4,000,000. There were 500,000 shares of $10 par common stock and 100,000 shares of $2 preferred stock outstanding throughout the current year. The income statement included a gain on discontinued operations of $400,000 after applicable income tax. a. Determine the per- share figure for common  stock income before discontinue operation. round your answer to the nearest whole cent.  $              Per share B. Determine the per- share figure got common stock for net income. Round your answe to the nearest whole cent  $             Per share

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The net income reported on the income statement of Cutler Co. was $4,000,000. There were 500,000 shares of $10 par common stock and 100,000 shares of $2 preferred stock outstanding throughout the current year. The income statement included a gain on discontinued operations of $400,000 after applicable income tax.


a. Determine the per- share figure for common  stock income before discontinue operation. round your answer to the nearest whole cent. 
$              Per share

B. Determine the per- share figure got common stock for net income. Round your answe to the nearest whole cent 

$             Per share 

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