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On January 1, 2020, Blossom Limited had shares outstanding as follows: 5% cumulative preferred shares, $100 par value, 10,900 shares issued and outstanding $1,090,000 Common

On January 1, 2020, Blossom Limited had shares outstanding as follows:

5% cumulative preferred shares, $100 par value, 10,900 shares issued and outstanding $1,090,000
Common shares, 207,000 shares issued and outstanding 2,070,000

To acquire the net assets of three smaller companies, the company authorized the issuance of an additional 308,000 common shares. The acquisitions were as follows:

Date of Acquisition Shares Issued

Company A: April 1, 2020

168,000

Company B: July 1, 2020

85,000

Company C: October 1, 2020

55,000

On May 14, 2020, Blossom realized a $95,000 gain (before tax) on a discontinued operation from a business segment that had originally been purchased in 2000. On December 31, 2020, the company recorded income of $660,000 before tax, not including the discontinued operation gain. Blossom has a 40% tax rate.

Calculate the earnings per share for 2020 as it should be reported to shareholders. (Round answer to 2 decimal places, e.g. 15.25.)

Earnings per share

Income before gain from discontinued operations

$enter a dollar amount

Discontinued operations gain net of tax

$enter a dollar amount

Net income

$enter a total amount

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Assume that Blossom declared a 1-for-2 reverse stock split on February 10, 2021, and that the companys financial statements for the year ended December 31, 2020, were issued on February 28, 2021. Calculate earnings per share for 2020 as it should be reported to shareholders. (Round answer to 2 decimal places, e.g. 15.25.)

Earnings per share

Income before gain from discontinued operations

$enter a dollar amount

Discontinued operations gain net of tax

$enter a dollar amount

Net income

$enter a total amount

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