Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Except for the earnings per share statistics, the 2019, 2020, and 2021 income statements for Ace Group Inc. were originally presented as follows: Required: 1.

image text in transcribed
image text in transcribed
image text in transcribed
Except for the earnings per share statistics, the 2019, 2020, and 2021 income statements for Ace Group Inc. were originally presented as follows: Required: 1. Calculate the 11 missing amounts. (Loss should be indicated by a minus sign.) Sales Costs and expenses Profit from continuing operations Gain (loss) on discontinued operations Profit (loss) 2019 2020 2021 $ 466,855 $ 687,040 $ 998,900 323,570 $ 309,435 80,410 (107.325) $ 153,244 $ 532,950 3 - Problems Soved Help Save & Exit Submit Submit "No preferred shares have been issued. 2. Calculate the weighted-average number of common shares outstanding during the following years: 2019 2020 2021 Weighted average outstanding shares 3. Prepare the earnings per share income statement presentation during the following years: (Do not round intermediate calculations, Round the final answers to 2 decimal places. Negative answers should be indicated by a minus sign.) 2019 2020 2021 Profit from continuing operations Gain (Loss) from discontinued operations 0.00 0.00 $ $ 0.00 $ Next > Prev 1 of 10 apter 13 - Problems Saved Help Save & Exit Subm 1 28,800 2.880 12,480 ++ + Information on Common Shares for Ace Group Inc. Shares outstanding on December 31, 2018 Purchase and retirement of shares on March 1, 2019 Sale of shares on June 1, 2019 Share dividend of 5% on August 1, 2019 Shares outstanding on December 31, 2019 Sale of shares on February 1, 2020 Purchase and retirement of shares on July 1, 2020 Shares outstanding on December 31, 2020 Sale of shares on March 1, 2021 Purchase and retirement of shares on September 1, 2021 Share split of 3:1 on October 1, 2021 Shares outstanding on December 31, 2021 5.760 1,440 + + + 16,560 3,600 "No preferred shares have been issued. BE 70 Taw 1 of 10

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

Step: 3

blur-text-image

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

The Organisational Leadership Audit

Authors: William Tate

1st Edition

0955970717, 978-0955970719

More Books

Students also viewed these Accounting questions