The company had 40000 shares of common stock outstanding

Reference no: EM13607078

.The Frame It Company reporting the following items on its income statement in 2009:

A. Net operating revenues, $814,250
B. Cost of goods sold, $305,908
C. Selling and administrative expenses $198,450
D. Research and development expenses, $99,993
E. Net interest expense, $7,887
F. Provision for income taxes, $78,909
G. Current year loss from discontinued operations of $18,000, net of tax benefit of $6,858
H. Loss from sale of discontinued operations of $52,000, net of tax benefit of $11,525
I. Preferred stock dividends, $24,000

The company had 40,000 shares of common stock outstanding throughout the fiscal year. Compute each of the following: (Show your computations to earn credit in each.)

a. Operating income
b. Income (loss) from continuing operations, before taxes
c. Income (loss) before discontinued operations
d. Net income (loss)
e. Net income (loss) available for common shareholders
f. Earnings per share from continuing operations
g. Earnings per share from discontinued operations
h. Earnings per share from net income (loss)

Reference no: EM13607078

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