On January 1, 2019, Bailey Industries had shares outstanding as follows.
6% cumulative preference shares, €100 par value, issued and outstanding 10,000 shares..........................................................................................€1,000,000
Ordinary shares €10 par value, issued and outstanding 200,000 shares................2,000,000
To acquire the net assets of three smaller companies, Bailey authorized the issuance of an additional 170,000 ordinary shares. The acquisitions took place as shown below.
Date of Acquisition Shares Issued
Company A: April 1, 2019......................60,000
Company B: July 1, 2019........................80,000
Company C: October 1, 2019...................30,000
On May 14, 2019, Bailey realized a €90,000 (before taxes) gain from discontinued operations. On December 31, 2019, Bailey recorded net income of €300,000 before tax and exclusive of the gain.
Instructions
Assuming a 40% tax rate, compute the earnings per share data that should appear on the financial statements of Bailey Industries as of December 31, 2019.