Question
34 million shares of 6%, $100 par value cumulative, nonconvertible preferred stock were sold on Jan 2, 2024. On April 30, 2024, Ainsworth purchased 50
34 million shares of 6%, $100 par value cumulative, nonconvertible preferred stock were sold on Jan 2, 2024. On April 30, 2024, Ainsworth purchased 50 million shares of its common stock as treasury stock. 20 million treasury shares were sold on August 31. Ainsworth issued a 4% common stock dividend on June 12, 2024. No cash dividends were declared in 2024. For the year ended Dec. 31, 2024, Ainsworth reported a net loss of $210 million, including an after-tax loss from discontinued operations of $540 million. Compute Ainsworth's net loss per share for the year ended December 31, 2024. Compute the per-share amount of income or loss from continuing operations for the year ended Dec. 31, 2024.
1. Compute Ainsworth's net loss per share for the year ended December 31, 2024. 2. Compute the per share amount of income or loss from continuing operations for the year ended December 31,2024. Note: Do not round intermediate calculations. Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Negative amounts should be indicated by a minus sign. Prepare an EPS presentation that would be appropriate to appear on Ainsworth's 2024 and 2023 comparative income statements. Assume EPS was reported in 2023 as $0.70, based on net income (no discontinued operations) of $595 million and a weighted-average number of common shares of 850 million. Note: Round your answers to 2 decimal places. Loss amounts should be indicated with a minus signStep by Step Solution
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