LeDuc Construction Ltd. had 60,000 common shares and 20,000, $0.75 cumulative preferred shares outstanding on December 31,

Question:

LeDuc Construction Ltd. had 60,000 common shares and 20,000, $0.75 cumulative preferred shares outstanding on December 31, 2016. On April 30, 2017, the company issued 6,000 additional common shares and split the common shares 2 for 1 on December 1, 2017.

There were no other share issuances and no share repurchases during the year ended December 31, 2017. Income for the year from continuing operations was $70,000, and loss on discontinued operations (net of income tax) was $4,000.

Required

Compute LeDuc Construction Ltd.'s EPS amounts for the year ended December 31, 2017.

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Question Posted: Apr 26, 2017 08:39 AM

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LeDuc Construction Ltd. had 60,000 common shares and 20,000, $0.75 cumulative preferred shares outstanding on December 31,

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Horngrens Accounting

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