13 Problem 19-8 Net loss; stock dividend; nonconvertible preferred stock; treasury shares; shares sold; discontinued operations [LO19-5, 19-6, 19-7, 19-13] 1.42 points On December 31, 2017, Ainsworth, Inc., had 650 million shares of common stock outstanding. Thirty five million shares of 8%, $100 par value cumulative, nonconvertible preferred stock were sold on January 2, 2018. On April 30, 2018, Ainsworth purchased 50 million shares of its common stock as treasury stock. Twenty million treasury shares were sold on August 31. Ainsworth issued a 4% common stock dividend on June 12, 2018. No cash dividends were declared in 2018. For the year ended December 31, 2018, Ainsworth reported a net loss of $215 million, including an after-tax loss from discontinued operations of $550 million. Required: 1. Compute Ainsworth's net loss per share for the year ended December 31, 2018. 2. Compute the per share amount of income or loss from continuing operations for the year ended December 31, 2018. 3. Prepare an EPS presentation that would be appropriate to appear on Ainsworth's 2018 and 2017 comparative income statements. Assume EPS was reported in 2017 as $0.80, based on net income (no discontinued operations) of $520 million and a weighted- average number of common shares of 650 million. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Reg 1 and Prepare an EPS presentation that would be appropriate to appear on Ainsworth's 2018 and 2017 comparative income statements. Assume EPS was reported in 2017 as $0.80, based on net income (no discontinued operations) of $520 million and a weighted average number of common shares of 650 million. (Round your answers to 2 decimal places. Loss amounts should be indicated with a minus sign.) Show less AINSWORTH, INC. 2018 and 2017 Comparative Income Statement 2018 2017 Earnings (Loss) Per Common Share: Income from continuing operations $ 0.76 $ 0.08 X Loss from discontinued operations 0.00 X -1 Net income (loss) $ 0.76 $ (0.92)