Ace Company had 200,000 shares of common stock outstanding on December 31, 2021. During the year 2022,

Question:

Ace Company had 200,000 shares of common stock outstanding on December 31, 2021. During the year 2022, the company issued 8,000 shares on May 1 and retired 14,000 shares on October 31. For the year 2022, Ace Company reported net income of $249,690 after a loss from discontinued operations of $40,600 (net of tax).

Instructions

What earnings per share data should be reported at the bottom of its 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...

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