Return to the Gala Fruit Corp. data in Starter 14-10. Gala Fruit had 10,000 common shares outstanding

Question:

Return to the Gala Fruit Corp. data in Starter 14-10. Gala Fruit had 10,000 common shares outstanding on January 1, 2017. Gala Fruit declared and paid preferred dividends of $1,500 during 2017. In addition, Gala Fruit paid a 20 percent on June 30.
In Starter 14-10
Other gains (losses) .......................................... $(12,500)
Cost of goods sold ........................................... 35,000
Gain on discontinued operations ...................... 8,500
Accounts receivable ........................................ 9,500
Net sales revenue ............................................. $100,000
Operating expenses ........................................... 30,000
Show how Gala Fruit Corp. reported EPS data on its 2017 income statement.
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... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...