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On January 1, 2020, Cheyenne Industries had stock outstanding as follows. 6% Cumulative preferred stock, $100 par value, issued and outstanding 9,300 shares $930,000 Common

On January 1, 2020, Cheyenne Industries had stock outstanding as follows.

6% Cumulative preferred stock, $100 par value, issued and outstanding 9,300 shares $930,000
Common stock, $10 par value, issued and outstanding 220,000 shares 2,200,000

To acquire the net assets of three smaller companies, Cheyenne authorized the issuance of an additional 160,800 common shares. The acquisitions took place as shown below.

Date of Acquisition

Shares Issued

Company A April 1, 2020 48,000
Company B July 1, 2020 82,800
Company C October 1, 2020 30,000

On May 14, 2020, Cheyenne realized a $93,600 (before taxes) insurance gain on discontinued operations. On December 31, 2020, Cheyenne recorded income of $282,000 from continuing operations (after tax). Assuming a 20% tax rate, compute the earnings per share data that should appear on the financial statements of Cheyenne Industries as of December 31, 2020. (Round answer to 2 decimal places, e.g. $2.55.)

Cheyenne Industries Income Statement December 31, 2020For the Year Ended December 31, 2020For the Quarter Ended December 31, 2020

Discontinued Operations Gain, Net of TaxDividendsExpensesExtraordinary LossExtraordinary GainIncome Before Extraordinary ItemIncome From Continuing OperationsIncome Per Share Before Extraordinary ItemLoss From Discontinued OperationsNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues

$

Discontinued Operations Gain, Net of TaxDividendsExpensesExtraordinary LossExtraordinary GainIncome Before Extraordinary ItemIncome From Continuing OperationsIncome Per Share Before Extraordinary ItemLoss From Discontinued OperationsNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues

Discontinued Operations Gain, Net of TaxDividendsExpensesExtraordinary LossExtraordinary GainIncome Before Extraordinary ItemIncome From Continuing OperationsIncome Per Share Before Extraordinary ItemLoss From Discontinued OperationsNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues

$

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