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What earnings per share data should be reported at bottom

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Ace Company had 200,000 shares of common stock outstanding on December 31, 2015. During the year 2016, the company issued 8,000 shares on May 1 and retired 14,000 shares on October 31. For the year 2016, Ace Company reported net income of $249,690 after a casualty loss of $40,600 (net of tax).

What earnings per share data should be reported at the bottom of its income statement, assuming that the casualty loss is extraordinary? (Round answers to 2 decimal places, e.g. $2.55.)

Wiley Plus Exercise 16-18

Flagstad Inc. presented the following data.

Net income $2,500,000
Preferred stock: 50,000 shares outstanding,   $100 par, 8% cumulative, not convertible 5,000,000
Common stock: Shares outstanding 1/1 750,000
   Issued for cash, 5/1 300,000
   Acquired treasury stock for cash, 8/1 150,000
   2-for-1 stock split, 10/1

Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.)

Reference no: EM131755023

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