The following information is excerpted from the financial statements in a recent annual report of
Blue Jay Manufacturing Corporation. (Dollar figures and shares of stock are in thousands.)
Extraordinary loss on extinguishment of debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (8,750)
Loss from continuing operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (19,470)
Income from discontinued operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,000
Preferred stock dividend requirements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (3,100)
Weighted-average number of shares of common stock outstanding . . . . . . . . . . . . 10,000
Instructions
a. Rearrange the items to present in good form the last portion of the income statement for Blue Jay Manufacturing Corporation, beginning with “Loss from continuing operations.”
b. Calculate the amount of net loss per share for the period. (Do not calculate per-share amounts for subtotals, such as income from continuing operations, loss before extraordinary items, and so forth. You are required to compute only a single earnings per share amount.)