Reference no: EM131027575
The income statement for Fignon Co. for the year ended December 31, 2015, reported the following Income from continuing operations before income taxes $35,000 income taxes $14,000 income from continuing operations $21,000, loss from disposal of segment (net income taxes) ($4,200) net income $16,800 Compute basic EPS amounts for 2015 under each of the following assumptions (consider each assumption separately):
(A) The company has only one class of common stock with 20,000 shares outstanding.
(B) The company has shares outstanding as follows: preferred 8% stock, $15 par, cumulative, 5,000 shares; common, $12 par, 20,000 shares. Only current year's preferred dividends are unpaid.
(C) Same as (B) except that fignon co, also has preferred 7% stock, $10 par, noncumulative, 6,000 shares, and only $3,000 in dividends on the noncumulative preferred has been declared.
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