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The shareholders' equity section of Bridgeport Corporation as at December 31, 2023, follows: 10% cumulative preferred shares, 100,000 shares authorized, 72,000 shares outstanding Common shares, 10 million shares authorized and issued Contributed surplus Retained earnings $4,500,000 10,000,000 10,100,000 24,600,000 181,000,000

The shareholders' equity section of Bridgeport Corporation as at December 31, 2023, follows: 10% cumulative preferred shares, 100,000 shares authorized, 72,000 shares outstanding Common shares, 10 million shares authorized and issued Contributed surplus Retained earnings $4,500,000 10,000,000 10,100,000 24,600,000 181,000,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The shareholders' equity section of Bridgeport Corporation as at December 31, 2023, follows: 10% cumulative preferred shares, 100,000 shares authorized, 72,000 shares outstanding Common shares, 10 million shares authorized and issued Contributed surplus Retained earnings $4,500,000 10,000,000 10,100,000 24,600,000 181,000,000 $205,600,000 Net income of $30 million for 2023 reflects a total effective tax rate of 25%. Included in the net income figure is a loss of $15 million (before tax) relating to the operations of a business segment that is to be discontinued. Calculate earnings per share information as it should appear in the financial statements of Bridgeport for the year ended December 31, 2023. (Round answers to 2 decimal places, e.g. 52.75.)
Transcribed Image Text:The shareholders' equity section of Bridgeport Corporation as at December 31, 2023, follows: 10% cumulative preferred shares, 100,000 shares authorized, 72,000 shares outstanding Common shares, 10 million shares authorized and issued Contributed surplus Retained earnings $4,500,000 10,000,000 10,100,000 24,600,000 181,000,000 $205,600,000 Net income of $30 million for 2023 reflects a total effective tax rate of 25%. Included in the net income figure is a loss of $15 million (before tax) relating to the operations of a business segment that is to be discontinued. Calculate earnings per share information as it should appear in the financial statements of Bridgeport for the year ended December 31, 2023. (Round answers to 2 decimal places, e.g. 52.75.)
Calculate earnings per share information as it should appear in the financial statements of Bridgeport for the year ended December 31, 2023. (Round answers to 2 decimal places, e.g. 52.75.) Continuing Operations Discontinued Operations Net Income /(Loss) $ $ Earnings per Share 260.42 156.25 104.17
Transcribed Image Text:Calculate earnings per share information as it should appear in the financial statements of Bridgeport for the year ended December 31, 2023. (Round answers to 2 decimal places, e.g. 52.75.) Continuing Operations Discontinued Operations Net Income /(Loss) $ $ Earnings per Share 260.42 156.25 104.17
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