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Brady, Inc., reports the following for 2010:
Income from continuing operations before income tax $500,000Extraordinary property loss from hurricane $60,000*Loss from discontinued operations $90,000*Weighted average number of shares outstanding 40,000Applicable tax rate 40%*Net of any tax effect. (a) Prepare a partial income statement for Brady, Inc., beginning with income from continuing operations before income tax.
(b) Calculate the earnings per common share for Brady, Inc., including per-share amounts for unusual items.
Research Web sites that contain examples of stock dividends, stock splits, and reverse splits. Yahoo! Finance at http://finance.yahoo.com is a helpful starting point for locating these Web sites.
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