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On December 31, 2019, Cullumber Corporation had 144,000 common shares outstanding. On April 30, 2020, the company issued an additional 52,000 common shares for
On December 31, 2019, Cullumber Corporation had 144,000 common shares outstanding. On April 30, 2020, the company issued an additional 52,000 common shares for cash. On July 31, 2020, the company repurchased and cancelled 20,000 common shares. During the year ended December 31, 2020, Cullumber earned income before taxes of $40,000,000. Not included in this income was a loss from discontinued operations of $5,000,000 before tax. The company was subject to a 25% income tax rate. Calculate earnings per share data as they should appear on the 2020 income statement of Cullumber Corporation. (Round answers to 2 decimal places, e.g. 52.75.) Earnings per share Continuing operations 181.11 Discontinued operations 22.64 Earnings per share 158.47
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