Question
On December 31, 2019,BlossomCorporation had139,200common shares outstanding. On April 30, 2020, the company issued an additional45,000common shares for cash. On July 31, 2020, the company
On December 31, 2019,BlossomCorporation had139,200common shares outstanding. On April 30, 2020, the company issued an additional45,000common shares for cash. On July 31, 2020, the company repurchased and cancelled18,000common shares.
During the year ended December 31, 2020,Blossomearned income before taxes of $40,000,000. Not included in this income was a loss from discontinued operations of $5,000,000before tax. The company was subject to a25% income tax rate.
Calculate earnings per share data as they should appear on the 2020 income statement ofBlossomCorporation.(Round answers to 2 decimal places, e.g. 52.75.)
Earnings per shareContinuing operations$Discontinued operationsEarnings per share$
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