Asked by Angelica Renata on Jun 14, 2024
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Gallant Company reported net income of $2,500,000. The income statement included a $200,000 loss on discontinued operations, after applicable income tax. There were 100,000 shares of $10 par common stock and 40,000 shares of 4% preferred stock of $100 par outstanding throughout the current year.Prepare the earnings per share section of Gallant Company's income statement.
Earnings Per Share
A financial ratio calculated by dividing a company's net income by its number of outstanding shares, indicating the profitability per share.
- Gain an understanding of, and determine, the earnings per share (EPS) and its influence on shareholder wealth.
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CN
Learning Objectives
- Gain an understanding of, and determine, the earnings per share (EPS) and its influence on shareholder wealth.
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