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On December 31, 2016, Ivanhoe Corporation had 155,000 common shares outstanding. On April 30, 2017, the company issued an additional 50,000 common shares for cash.
On December 31, 2016, Ivanhoe Corporation had 155,000 common shares outstanding. On April 30, 2017, the company issued an additional 50,000 common shares for cash. On July 31, 2017, the company repurchased and cancelled 29,000 common shares. During the year ended December 31, 2017, Ivanhoe earned income before taxes of $38,000,000. Not included in this income was a loss from discontinued operations of $4,900,000 before tax. The company was subject to a 24% income tax rate. Calculate earnings per share data as they should appear on the 2017 income statement of Ivanhoe Corporation. (Round answers to 2 decimal places, e.g. 52.75.) Earnings per share Continuing operations 378.75 X Discontinued operations 48.84 Earnings per share 329.91
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