Appendix 1: Earnings per share, discontinued operations

The net income reported on the income statement of Cutler Co. was $2,460,000. There were 50,000 shares of $18 par common stock and 20,000 shares of $5 preferred stock outstanding throughout the current year. The income statement included a gain on discontinued operations of $300,000 after applicable income tax.

a. Determine the per-share figure for common stock for income before discontinued operations. Round your answer to the nearest cent. $ per share

b. Determine the per-share figure for common stock for net income. Round your answer to the nearest cent. $ per share

49.2 and 43.2 are not the Answer! They do not work