Ivanhoe Corporation, a publicly traded company, is preparing the comparative financial statements to be included in the annual report to shareholders. Ivanhoe's fiscal year ends May 31. The following information is available. 1. Income from operations before income tax for Ivanhoe was $1,300,000 and $1,700,000, respectively, for the fiscal years ended May 31, 2021, and 2020. 2. 2021. Ivanhoe experienced a loss from discontinued operations of $500,000 from a business segment disposed of on March 3, 3. A 20% combined income tax rate applies to all of Ivanhoe Corporation's profits, gains, and losses. 4. 5. 6. 7. Ivanhoe's capital structure consists of preferred shares and common shares. The company has not issued any convertible securities or warrants and there are no outstanding stock options. Ivanhoe issued 147,000 of $10 par value, 5% cumulative preferred shares in 2013. All of these shares are outstanding, and no preferred dividends are in arrears. There were 1.50 million common shares outstanding on June 1, 2019. On September 1, 2019, Ivanhoe sold an additional 300,000 common shares at $16 per share. Ivanhoe distributed a 20% stock dividend on the common shares outstanding on December 1, 2020. These were the only common share transactions during the past two fiscal years. X Your answer is incorrect. Determine the weighted average number of common shares that would be used in calculating earnings per share on the current comparative income statement for: 1. The year ended May 31, 2021 1675000 2. The year ended May 31, 2020 2160000 eTextbook and Media Prepare a comparative income statement for the years ended May 31, 2021, and 2020. Assume that Ivanhoe discloses all applicable earnings per share data on the face of the income statement. (Round Earnings Per Share answers to 2 decimal places, e.g. 15.25.) IVANHOE CORPORATION Comparative Income Statement For the Years Ended May 31, 2021 and 2020 Income from Continuing Operations Income Tax Earnings per common share: Net Income/(Loss) eTextbook and Media 2021 2020 Ivanhoe Corporation, a publicly traded company, is preparing the comparative financial statements to be included in the annual report to shareholders. Ivanhoe's fiscal year ends May 31. The following information is available. 1. Income from operations before income tax for Ivanhoe was $1.300.000 and $1,700,000, respectively, for the fiscal years ended May 31, 2021, and 2020. 2. Ivanhoe experienced a loss from discontinued operations of $500.000 from a business segment disposed of on March 3. 2021 3. A 20% combined income tax rate applies to all of Ivanhoe Corporation's profits, gains, and losses. 4. 5. 6. 7. Ivanhoe's capital structure consists of preferred shares and common shares. The company has not issued any convertible securities or warrants and there are no outstanding stock options. Ivanhoe issued 147,000 of $10 par value. 5% cumulative preferred shares in 2013. All of these shares are outstanding, and no preferred dividends are in arrears. There were 1.50 million common shares outstanding on June 1, 2019. On September 1, 2019, Ivanhoe sold an additional 300,000 common shares at $16 per share. Ivanhoe distributed a 20% stock dividend on the common shares outstanding on December 1, 2020. These were the only common share transactions during the past two fiscal years. x Your answer is incorrect. Determine the weighted average number of common shares that would be used in calculating earnings per share on the current comparative income statement for: 1. The year ended May 31, 2021 1675000 2. The year ended May 31, 2020 2160000 eTextbook and Media Your answer is partially correct Prepare a comparative income statement for the years ended May 31, 2021, and 2020. Assume that Ivanhoe discloses all applicable earnings per share data on the face of the income statement. (Round Earnings Per Share answers to 2 decimal places, es 15.25) BANHOE CORPORATION Your answer is partially correct. Prepare a comparative income statement for the years ended May 31, 2021, and 2020. Assume that Ivanhoe discloses all applicable earnings per share data on the face of the income statement. (Round Earnings Per Share answers to 2 decimal places, e.g. 15.25.) IVANHOE CORPORATION Comparative Income Statement For the Years Ended May 31, 2021 and 2020 Income from Continuine Operations Income Tax Earnings per common share: Net Income/(Loss) SA 2021 VA 2020