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List the earnings per share data

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Reference no: EM132488372

On January 1, 2017, Pronghorn Industries had stock outstanding as follows.

6% Cumulative preferred stock, $100 par value, issued and outstanding 9,700 shares

$970,000Common stock, $10 par value, issued and outstanding 203,000 shares

2,030,000

To acquire the net assets of three smaller companies, Pronghorn authorized the issuance of an additional 163,200 common shares. The acquisitions took place as shown below.

Date of Acquisition

Shares Issued

Company A April 1, 2017          49,200

Company B July 1, 2017            82,800

Company C October 1, 2017      31,200

On May 14, 2017, Pronghorn realized a $91,200 (before taxes) insurance gain on discontinued operations.

  • On December 31, 2017, Pronghorn recorded income of $330,000 from continuing operations (after tax).

Question 1: Assuming a 50% tax rate, LIST the earnings per share data that should appear on the financial statements of Pronghorn Industries as of December 31, 2017. (Round answer to 2 decimal places, e.g. $2.55.)

Reference no: EM132488372

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