nment CALCULATOR | | PRINTER VERSION I BACX Problem 16-6 Corporation is preparing the comparative financial statements for the annual report to its shareholders for fiscal years ended May 31, 2017, and May 31, 2018. The income from operations for the fiscal year ended May 31, 2017, was $1,878,000 and income from continuing operations for the fiscal year ended May 31 2018, was $2,526,000. In both nts for on February 2018. The company uses a 40% effective tax rate for nc r 5 years. The c mpany experienced a loss from discontinued operations of $620 taxes. The capital structure of Marin Corporation on June 1, 2016, consisted of 1,041,000 shares of common stock cumulative preferred stock. There were no preferred dividends in outstanding and 19,500 shares of $50 par value, 6%. arrears, and the company had no issued any convertible securities, options, or warrants common stock at $20 per share. Marin distributed a 20% stock dvidend on the com mon shares was able to sell an additional 791,000 shares of the common stock at $22 per share. These were the On October 1, 2016, Marin sold an additional 487,000 shares of the outstanding on January 1, 2017. On December 1, 2017, Marin only common stock transactions that occurred during the two fiscal years Identify whether the capital structure at Marin Corporation is a simple or complex capital structure. Simple Capital Structure the weighted-average number of shares that Marin Corporation would use in calculating earnings per share for the fiscal year ended: Weighted-average number of shares (1) May 31, 2017 (2) May 31, 2018 May 31, 2018. This statement will be included in Marin's annual report and should display the appropriate earnings per share presentations. (Round earnings per share to 2 decimal places, e.g. $1.55.) n good form, a comparative income statement, beginning with income from operations, for Marin Corporation for the fiscal years ended May 31, 2017, and MARIN CORPORATION Comparative Income Statement For Fiscal Years Ended May 31, 2017 and 2018 2017 2018 Income From Operations Earnings per share: 20 Earnings per share: Click if you would like to Show Work for this question: Open Show Work