Except for the earnings per share statistics, the 2021, 2020, and 2019 income statements for Ace Group Inc. were originally presented as follows:

Required

1. Calculate the 11 missing amounts.

2. Calculate the weighted-average number of common shares outstanding during:

a. 2019?

b. 2020?

c. 2021

3. Rounding calculations to two decimal places, prepare the earnings per share income statement presentations for:

a. 2019?

b. 2020?

c. 2021

Analysis Component: Profit from continuing operations increased from 2020 to 2021 yet there was a decrease in the earnings per share calculated for this amount for the same years. Explain.

Transcribed Image Text:

2021 2020 2019 $998,900 $687,040 $466,855 Sales. Costs and expenses. 323,570 Profit from continuing operations. 309,435 Gain (loss) on discontinued operations (107,325) 80,410 Profit (loss). $532,950 $153,244 Information on Common Shares for Ace Group Inc. Shares outstanding on December 31, 2018. 28,800 Purchase and retirement of shares on March 1, 2019. 2,880 Sale of shares on June 1, 2019. Share dividend of 5% on August 1, 2019. + 12,480 Shares outstanding on December 31, 2019. Sale of shares on February 1, 2020. + 5,760 Purchase and retirement of shares on July 1, 2020. 1,440 Shares outstanding on December 31, 2020. Sale of shares on March 1, 2021. + 16,560 Purchase and retirement of shares on September 1, 2021 3,600 Share split of 3:1 on October 1, 2021. Shares outstanding on December 31, 2021.