I am struggling on this problem really and when I have asked for the professor's help I am being blown off. I really need help and don't know where else to turn. Can someone please help me solve this and explain how they got it so that I can understand how the numbers and figures are solved.

Exercise 16-20

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On January 1, 2017, Crane Industries had stock outstanding as follows.

6% Cumulative preferred stock, $100par value,issued and outstanding9,800shares$980,000Common stock, $10par value, issued and outstanding206,000shares2,060,000

To acquire the net assets of three smaller companies, Crane authorized the issuance of an additional158,400common shares. The acquisitions took place as shown below.

Date of Acquisition

Shares Issued

Company A April 1, 201748,000Company B July 1, 201780,400Company C October 1, 201730,000

On May 14, 2017, Crane realized a $88,800(before taxes) insurance gain on discontinued operations.

On December 31, 2017, Crane recorded income of $274,800from continuing operations (after tax).

Assuming a50% tax rate, compute the earnings per share data that should appear on the financial statements of Crane Industries as of December 31, 2017.(Round answer to 2 decimal places, e.g. $2.55.)

CraneIndustries

Income Statement

December 31, 2017

For the Year Ended December 31, 2017

For the Quarter Ended December 31, 2017

Income From Continuing Operations

Loss From Discontinued Operations

Net Income / (Loss)

I have the labels of what is suppose to go the name boxes I just don't understand how to get the numbers. Thank you for your help.