Falconi Academy Surplus had 55,000 shares of common stock and 5,000 shares of 1%, $10 par value

Question:

Falconi Academy Surplus had 55,000 shares of and 5,000 shares of 1%, $10 preferred stock outstanding through December 31, 2016. Income from continuing operations for 2016 was $679,750, and loss on discontinued operations (net of income tax saving) was $66,000. Falconi also had an extraordinary gain (net of tax) of $170,500.
Compute Falconi’s earnings per share for 2016, starting with income from continuing operations. Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...