| CALCULATOR MESSAGE MY INSTRUCTOR STANDARD VIEW PRINTER VERSIO Exercise 16-20 On January 1, 2017, Sweet Industries had stock outstanding as follows. 6% Cumulative preferred stock, $100 par value, issued and outstanding 9,800 shares $980,000 Common stock, $10 par value, issued and outstanding 185,000 shares To acquire the net assets of three smaller companies, Sweet authorized the issuance of an additional 159,600 common shares. 1,850,000 as shown below. Date of Acquisition Shares Issued Company A April 1, 2017 Company B July 1, 2017 Company C October 1, 2017 52,800 76,800 30,000 On May 14, 2017, Sweet realized a $91,200 (before taxes) insurance gain on discontinued operations. On December 31, 2017, Sweet recorded income of $273,600 from continuing operations (after tax). Assuming a 50% tax rate, compute the earnings per share data that should appear on the financial statements of Sweet Indust 2017. (Round answer to 2 decimal places, e.g. $2.55.) Sweet Industries 3 OLAOR I MESSAGE MY INSTRUCTOR STANDARD VIEW: , ompany B July 1, 2017 ompany C October 1, 2017 n May 14, 2017, Sweet realized a $91,200 (before taxes) insurance gain on discontinued operations. n December 31, 2017, Sweet recorded income of $273,600 from continuing operations (after tax). ssuming a 50% tax rate, compute the earnings pershare data that should appear on the financial stateme 76,800 30,000 017. (Round answer to 2 decimal places, e.g. $2.55.) Sweet Industries Income Statement LINK TO TEXT Question Attempts: 1 of 5 used