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Can someone please show their work on how to do this? Thank you E13-35 (similar to) Fahr Academy Surplus had 50,000 shares of common stock
Can someone please show their work on how to do this? Thank you
E13-35 (similar to) Fahr Academy Surplus had 50,000 shares of common stock and 4,000 shares of 10%, $30 par value preferred stock outstanding through December 31, 2018. Income from continuing operations for 2018 was $747,000, and loss on discontinued operations (net of income tax saving) was $10,000 Compute Fahr's earnings per share for 2018, starting with income from continuing operations. Round to the nearest cent. (Enter all EPS amounts to the nearest cent, $X.XX. Use parentheses or a minus sign for amounts reducing the income from continuing operations.) A Click the icon to see the worked Solution. Begin by selecting the formula to compute the earnings per share. Earnings per share = (Net income - Preferred dividends) / Weighted average number of common shares outstanding Now, compute Fahr's earnings per share for 2018, starting with income from continuing operations. Earnings per Share of Common Stock (50,000 shares outstanding): Income From Continuing Operations 14.70 Loss From Discontinued Operations (0.20) 14.50 Net IncomeStep by Step Solution
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