Reference no: EM132288948

Question - Almond Co had 50,000 common shares outstanding on January 1, 2019. The company sold an additional 5,000 shares on March 1, issued a 4-for-1 stock split on September 1, reacquired 4,000 common shares for treasury on October 1 and re-issued 2,000 Treasury shares on December 1. The company also declared, but has not paid, a dividend on its 10,000 shares 5%, $50 par, noncumulative preferred stock. Almond had a net income of $184,100. This consists of income from continuing operations of $213,000 and a loss from discontinued operations (net of taxes) of $28,900.

1. Show a schedule to determine the weighted average of common stock outstanding for Almond Co.

2. Compute Almond Co's earnings per share for 2019.

3. Show 2019 income statement disclosure of earnings per share showing the calculations of each.