Question
On January 1, 2025, Wildhorse Industries had stock outstanding as follows. 6% Cumulative preferred stock, $100 par value, issued and outstanding 9,400 shares $940,000 Common
On January 1, 2025, Wildhorse Industries had stock outstanding as follows.
6% Cumulative preferred stock, $100 par value, issued and outstanding 9,400 shares | $940,000 | |
Common stock, $10 par value, issued and outstanding 219,000 shares | 2,190,000 |
To acquire the net assets of three smaller companies, Wildhorse authorized the issuance of an additional 158,400 common shares. The acquisitions took place as shown below.
Date of Acquisition | Shares Issued | |
Company A April 1, 2025 | 51,600 | |
Company B July 1, 2025 | 76,800 | |
Company C October 1, 2025 | 30,000 |
On May 14, 2025, Wildhorse realized a $86,400 (before taxes) insurance gain on discontinued operations. On December 31, 2025, Wildhorse recorded income of $326,400 from continuing operations. Assuming a 20% tax rate, compute the earnings per share data that should appear on the financial statements of Lennon Industries as of December 31, 2025. (Round answer to 2 decimal places, e.g. $2.55.)
Wildhorse Industries
Income Statement:
Income from continuing operations $ ___
Discontinued operations gain, net of tax $ ____
Net Income / (Loss) $ ____
I NEED THE ANSWERS ABOVE. I posted this question and continue to get wrong answers.
(answers should be small decimals)
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