Problem 13-1A Earnings per share calculations and presentation LO1, 2, 3, 4 excel CHECK FIGURES: Weighted average outstanding shares: 2. a. 35,364; b. 44,880, c. 171,720 Note: Problem 13-1B covers LO1, 3 with no retirement of shares. PROBLEMS Except for the earnings per share statistics, the 2021, 2020, and 2019 income statements for Ace Group Inc. originally presented as follows: TE 2021 2020 2019 Sales Costs and expenses Profit from continuing operations Gain (loss) on discontinued operations Profit (loss). $998.900 323,570 ? (107.325) ? $687,040 ? ? 80,410 $532.950 $466,855 ? 309,435 $153,244 28.800 2.880 + 12,480 2 2 Information on Common Shares for Ace Group Inc. Shares outstanding on December 31, 2018 Purchase and retirement of shares on March 1, 2019 Sale of shares on June 1, 2019. Share dividend of 5% on August 1, 2019 Shares outstanding on December 31, 2019 Sale of shares on February 1, 2020. Purchase and retirement of shares on July 1, 2020. Shares outstanding on December 31, 2020. Sale of shares on March 1, 2021 Purchase and retirement of shares on September 1, 2021 Share split of 3:1 on October 1, 2021 Shares outstanding on December 31, 2021 + 5.760 1.440 + 16,560 3.600 "No preferred shares have been issued 3. Rounding calculations to two decimal places, prepare the earnings per share income statement presenta Analysis Component: Profit from continuing operations increased from 2020 to 2021 yet there was a decrease CHAPTER 13 Corporate Repo Required 1. Calculate the 11 missing amounts. 2. Calculate the weighted average number of common shares outstanding during: a. 2019 b. 2020 tions for: a. 2019 b. 2020 c. 2021 c. 2021 in the earnings per share calculated for this amount for the same years. Explain. Question 1: Earning per share calculations and prestation Expect for the earning per share statistics the 2021, 2020 and 2019 income statements for Ace Group Inc. were ordinally presented as follows: 2021 2020 2019 Sales $998,900 $687,040 $466,855 Costs and expenses. 323,570 Profit from continuing operations... 309.435 Gain (loss) on discontinued operations...... (107.325) 80.410 Profit (loss). $532.950 S153.244 ? ? Information on Common Shares for Ace Group Inc.* Shares outstanding on December 31, 2018... 28.800 Purchase and retirement of shares on March 1, 2019. 2.880 Sale of shares on June 1, 2019... 12,480 Share dividend of 5% on August 1, 2019. Shares outstanding on December 31, 2019. Sale of shares on February 1, 2020.. 5,760 Purchase and retirement of shares on July 1, 2020. 1.440 Shares outstanding on December 31, 2020... Sale of shares on March 1, 2021... 16,560 Purchase and retirement of shares on September 1, 2021 3.600 Share split of 3:1 on October 1, 2021... Shares outstanding on December 31, 2021, "No preferred there have been issued ? Required: 1. Calculate all the missing amounts 2. Calculate the weighted - average number of shares outstanding during: a. 2019 b. 2020 C. 2021 3. Rounding calculations to two decimal places, prepare the earnings per share income statement for: a. 2019 b. 2020 C. 2021