Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Check my work On December 31, 2017, Ainsworth, Inc., had 600 million shares of common stock outstanding. Twenty two million shares of 8%, $100 par

image text in transcribed
image text in transcribed
image text in transcribed
Check my work On December 31, 2017, Ainsworth, Inc., had 600 million shares of common stock outstanding. Twenty two million shares of 8%, $100 par value cumulative, nonconvertible preferred stock were sold on January 2, 2018. On April 30, 2018, Ainsworth purchased 50 million shares of its common stock as treasury stock. Twenty million treasury shares were sold on August 31. Ainsworth issued a 4% common stock dividend on June 12, 2018. No cash dividends were declared in 2018. For the year ended December 31, 2018, Ainsworth reported a net loss of $150 million, including an after tax loss from discontinued operations of $420 million. Required: 1. Compute Ainsworth's net loss per share for the year ended December 31, 2018 2. Compute the per share amount of income or loss from continuing operations for the year ended December 31, 2018. 3. Prepare an EPS presentation that would be appropriate to appear on Ainsworth's 2018 and 2017 comparative income statements. Assume EPS was reported in 2017 as $0.80, based on net AV 4 * 12/12 na Ne Check my work 3. Prepare an EPS presentation that would be appropriate to appear on Ainsworth's 2018 and 2017 comparative income statements. Assume EPS was reported in 2017 as $0.80, based on net income (no discontinued operations) of $480 million and a weighted average number of common shares of 600 million. Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Compute Ainsworth's net loss per share for the year ended December 31, 2018 and the per share amc from continuing operations for the year ended December 31, 2018. (Round your intermediate calculati Negative amounts should be indicated by a minus cinn Enter vour answers in millions lie 10 0 0 Saved Help Save & Exit Submit Check my work Compute Ainsworth's net loss per share for the year ended December 31, 2018 and the per share amou from continuing operations for the year ended December 31, 2018. (Round your intermediate calculatio Negative amounts should be indicated by a minus sign. Enter your answers in millions (i.e., 10,000,000 10).) Numerator / Denominator Net Loss Per Share Numerator 1 Denominator Income/Loss from Continuing Operations Per Share

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Information Technology Control And Audit

Authors: Angel R. Otero

5th Edition

1498752284, 9781498752282

More Books

Students also viewed these Accounting questions