Question
Faller Academy Surplus had 60,000 shares of common stock and 4,000 shares of 55%, $5 par value preferred stock outstanding through December 31, 2016. Income
Faller Academy Surplus had 60,000 shares of common stock and 4,000 shares of 55%, $5 par value preferred stock outstanding through December 31, 2016. Income from continuing operations for 2016 was $763,000, and loss on discontinued operations (net of income tax saving) was $24,000. Faller also had an extraordinary gain (net of tax) of $174,000.
Compute
Faller's earnings per share for 2016, starting with income from continuing operations. (Enter all EPS amounts to the nearest cent, $X.XX. Use parentheses or a minus sign for amounts reducing the income from continuing operations.)
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