A portion of the combined statement of income and retained earnings of Wildhorse Inc. for the current year follows. Income from continuing operations $14,866,500 Loss from discontinued operations, net of applicable income tax (Note 1) 1,329,600 Net income 13,536,900 Retained earnings at the beginning of the year 82,600,000 96.136,900 Dividends declared: On preferred stock-$6.00 per share On common stock-$175 per share Retained earnings at the end of the year $324,000 15.130,000 15.454,000 $80,682,900 Note 1. During the year. Wildhorse Inc suffered a major loss from discontinued operations of $1,329,600 after applicable income tax reduction of $1,190,000 At the end of the current year, Wildhorse Inc has outstanding 8.560.000 shares of $10 par common stock and 54,000 shares of 6% preferred. On April 1 of the current year, Wildhorse Inc. issued 1.000.000 shares of common stock for $33 per share to help finance the loss from discontinued operations Compute the earnings per share on common stock for the current y sit should be reported to stockholders (Round answer to 2 decimal places, eg. 255.) At the end of the current year, Wildhorse Inc. has outstanding 8,560,000 shares of $10 par common stock and 54,000 shares of 6% preferred. On April 1 of the current year, Wildhorse Inc. issued 1,000,000 shares of common stock for $33 per share to help finance the loss from discontinued operations. Compute the earnings per share on common stock for the current year as it should be reported to stockholders. (Round answer to 2 decimal places, eg. 2.55) WILDHORSE INC. Income Statement For the Year Ended December 3 income from Cominuing Operations 156 Los from Discontinued Operations 033 5 142 eTextbook and Media Attempts: 2 of 3 used Submit Answer