Answer Fast

Question #2. (4+6) A) Throughout the year, Baker Construction Company had 3 million shares of common stock and 150,000 shares of convertible preferred stock outstanding. Each share of preferred is convertible into two shares of common. What number of shares should be used in the computation of (a) basic earnings per share and (b) diluted earnings per share? B) The following information is excerpted from the financial statements in a recent annual report of Alam Manufacturing Corporation (Rupee figures and shares of stock are in millions.) Extraordinary loss on extinguishment of debt. Loss from continuing operations. Income from discontinued operations Preferred stock dividend requirements Weighted average number of shares of common stock outstanding Rs. (8,750) (19,470) 12,000 (3.100) 10,000 Required: a. Rearrange the items to present in good form the last portion of the income statement for Alam Manufacturing Corporation, beginning with "Loss from continuing operations." b. Calculate the amount of net loss per share for the period. (Do not calculate per-share amounts for subtotals, such as income from continuing operations, loss before extraordinary items, and so forth. You are required to compute only a single earnings per share amount.)