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On December 31, 2023, Ainsworth, Incorporated had 760 million shares of common stock outstanding. Twenty nine million shares of 6%, $100 par value cumulative, nonconvertible
On December 31, 2023, Ainsworth, Incorporated had 760 million shares of common stock outstanding.
- Twenty nine million shares of 6%, $100 par value cumulative, nonconvertible preferred stock were sold on January 2, 2024.
- On April 30, 2024, Ainsworth purchased 30 million shares of its common stock as treasury stock.
- Twelve million treasury shares were sold on August 31.
- Ainsworth issued a 5% common stock dividend on June 12, 2024.
- No cash dividends were declared in 2024.
- For the year ended December 31, 2024, Ainsworth reported a net loss of $185 million, including an after-tax loss from discontinued operations of $490 million.
Required:
- Compute Ainsworth's net loss per share for the year ended December 31, 2024.
- Compute the per share amount of income or loss from continuing operations for the year ended December 31, 2024.
- Prepare an EPS presentation that would be appropriate to appear on Ainsworth's 2024 and 2023 comparative income statements. Assume EPS was reported in 2023 as $0.75, based on net income (no discontinued operations) of $570 million and a weighted-average number of common shares of 760 million.
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