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Presented below is financial information of the Sheridan Corporation for 2020. Gain on the sale of investments Net sales 352,000 99,000,000 Cost of goods sold
Presented below is financial information of the Sheridan Corporation for 2020. Gain on the sale of investments Net sales 352,000 99,000,000 Cost of goods sold 68,200,000 Loss on disposal of wholesale division 1,474,000 Interest revenue Loss on operations of wholesale division 231,000 1,518,000 Selling and administrative expenses 18,040,000 Dividends declared on common stock Write off of goodwill Dividends declared on preferred stock Effective tax rate on all items is 30% 748,000 1,716,000 264,000 Sheridan Corporation decided to discontinue its wholesale operations and to retain their manufacturing operations. On July 1, Sheridan sold the wholesale operations. During 2020, there were 1,000,000 shares of common stock outstanding all year. Compute each of the following. (Round earnings per share answer to 2 decimal places, e.g. 5.25 and all other answers to 0 decimal places, eg 5,275.) 1. Income from operations 2. Income before income tax 3. Income from continuing operations $ 4. Net income $ 5. Earnings per share. $
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