Problem 16 6 perations for the fiscal year Stellar ration is preparing the comparative financial statements for the annual report to its shareholders for fiscal vears ended May 31, 2017, and May 31, 2018. The income from ended May 31, 2017, was $1,818,000 and income from continuing operations for the fiscal year ended May 31, 2018, was $2,324,000 of debt, an obligation that requires interest-only payments for 5 years. The company experienced a loss from discontinued operations effective tax rate for income taxes. 2,617,000. In both years, the company incurred a 10 % interest expense on $618,000 on February 2018. The company uses a 40 % The capital structure of Stelllar Corporation on June 1, 2016, consisted of 967,000 shares of common stock outstanding and 19,300 shares of $50 par value, 6%, cumulative preferred stock. There were no preferred dividends r warrants. arrears, and the company had not issued any convertible securities, options, On October 1, 2016, Stellar sold an additional 517,000 shares of the common stock at $20 per share. Stellar distributed a 20 % stock dividend December 1, 2017, Stellar was able the common shares outstanding on January 1, 2017. On sell an additional 821,000 shares of the common stock at $22 per share. These were the only common stock transactions that occurred during the two fiscal years. Identify whether the capital structure at Stellar Corporation s a simple or complex capital structure. LINK TO TEXT Determine the weighted-average number of shares that Stellar Corporation would use calculating earnings per share for the fiscal year ended: Weighted-average number of shares (1) May 31, 2017 (2) May 31, 2018 good form, a comparative income statement, beginning with income from operations, for Stellar Corporation for the fiscal years ended May 31, 2017, and May 31, 2018. This statement will be included Prepare, in Stellar's annual report and should display the appropriate earnings per share presentations. (Round earnings per share to 2 decimal places, e.g. $1.55.) STELLAR CORPORATION Comparative Income Statement For Fiscal Years Ended May 31, 2017 and 2018 2017 2018 Earnings per share