*Exercise 16-20 Your answer is partially correct. Try again On January 1, 2017, Concord Industries had stock outstanding as follows 6% Cumulative preferred stock, $100 par value, issued and outstanding 9,600 shares $960,000 Common stock, $10 par value, issued and outstanding 181,000 shares 1,810,000 To acquire the net assets of three smaller companies, Concord authorized the issuance of an additional 159,600 common shares. The acquisitions took place as shown below Date of Acquisition Shares Issued Company A April 1, 2017 Company B July 1, 2017 Company C October 1, 2017 49,200 79,200 31,200 On May 14, 2017, Concord realized a $90,000 (before taxes) insurance gain on discontinued operations On December 31, 2017, Concord recorded income of $312,000 from continuing operations (after tax) Assuming a 50% tax rate, compute the earnings per share data that should appear on the financial statements of Concord Industries as of December 31, 2017. (Round answer to 2 decimal places, e.g. $2.55.) Concord Industries Income Statement or the Year Ended December 31, 2017 ncome From Continuing Operations iscontinued Operations Gain, Net of Tax et Income (Loss)