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Cullumber Company has a tax rate of 35 percent and income before non-operating items of $1392000. It also has the following items (gross amounts). Unusual
Cullumber Company has a tax rate of 35 percent and income before non-operating items of $1392000. It also has the following items (gross amounts). Unusual loss $221500 Discontinued operations loss 607500 Gain on disposal of equipment 47500 Change in accounting principle increasing prior year's income 317500 What is the amount of income tax expense Cullumber would report its income statement? $520800 O $324800 $487200 O $426300 In 2020, Oriole Company reported net income of $630000. It declared and paid preferred stock dividends of $156000 and common stock dividends of $54000. During 2020, Oriole had a weighted average of 300000 common shares outstanding. Compute Oriole's 2020 earnings per share. O $1.58 O $1.40 O $2.62 O $2.10 In 2020, Cullumber Company reported net income of $202000. It declared and paid common stock dividends of $23000 and had a weighted average of 100000 common shares outstanding. Compute the earnings per share to the nearest cent. $2.02 O $1.79 O $2.25 O $0.46
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