1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Crazy boy [7]
3 years ago
12

Gallant Company reported net income of $2,500,000. The income statement included one extraordinary item: a $500,000 gain from co

ndemnation of land and a $200,000 loss on discontinued operations, both after applicable income tax.
There were 100,000 shares of $10 par common stock and 40,000 shares of $4 preferred stock outstanding throughout the current year.
Required: Prepare the earnings per share section of Gallant Company
Business
1 answer:
Zepler [3.9K]3 years ago
7 0

Answer:

Explanation:

Income from contunuing operations:

Net income 2,500,000

Less: gain from condemnation of land 500,000

Add: loss on discontinued operations 200,000

Income from contunuing operations 2,200,000

Earcnings per common share [(2,200,000-160,000)/100,000]

EPS Income statement

Earcnings per common share $20.40

Less: loss on discontinued operations $2 (200,000/100,000)

Add: gain from condemnation of land $5 (500,000/100,000)

Net income $23.40

You might be interested in
What is the simple interest earned on $2200 at a 4.6% interest rate for 3 years? Round your answer to the nearest cent
Vlad1618 [11]
It would be $303.60 simple interest earned
5 0
3 years ago
essay question business studies describe the following economic issues hiv and aids piracy strikes porverty​
photoshop1234 [79]

They are problems that come from social/people and economic/money
Businesses face increased costs of finding/recruiting/training replacements.
• The pool of available skilled workers is getting smaller due to the high rate of HIV
infection.
• The costs of finding replacement employees and recruiting are high.
• Business need to invest money in programmes to educate the workers regarding


Costs such as insurance/retirement funds/health/safety are higher as a result of HIV for
the business.
• Businesses face increased costs of paying benefits like housing subsidies, medical care,
funeral care and pension funds.
• Staff morale might be low as they are concerned about their health thus lowering productivity
6 0
3 years ago
Anybody got discord?
Luden [163]

Never gonna give you up

Never gonna let you down

Never gonna run around and desert you

Never gonna make you cry

Never gonna say goodbye

Never gonna tell a lie and hurt you

6 0
3 years ago
Read 2 more answers
In a pull manufacturing system, ______. Group of answer choices Production is based on government regulations Production is base
AysviL [449]

Answer:

actual customer demand

Explanation:

Pull production systems can be regarded as system whereby the product is been manufactured as a result of response to a specific demand. pull system can be regarded as lean manufacturing strategy , this strategy helps in reduction of waste in the production process. The components that is been used in manufacturing process are been only replaced only when consumed , so in this case, enough products are been made by companies only to meet customer demand. It should be noted that In a pull manufacturing system, Production is based on actual customer demand

7 0
3 years ago
__________ is a direct lobbying technique used by interest groups to influence public policy.
amm1812
Good morning.

The answer is : Providing election support.


Good luck!
7 0
3 years ago
Read 2 more answers
Other questions:
  • In January of 20X1, the Falwell Company began construction of its own manufacturing facility. During 20X1, $6,000,000 in costs w
    13·1 answer
  • At the end of its first year of operations on December 31, 2020, Carla Vista Company's accounts show the following.
    11·1 answer
  • Business application software programs make it possible to:
    13·1 answer
  • Every time your colleague faces a dilemma she is fond of saying, "i believe some principles can't be sacrificed for anything." s
    5·2 answers
  • Negative net exports mean<br>​
    7·1 answer
  • Are the costs of transforming direct materials into finished goods.
    13·1 answer
  • What is the maturity date of a loan for $4,000 at 15% exact interest taken out on June 7? The amount of interest on the loan was
    14·1 answer
  • A community council must decide which recreation facilities to construct in its community. Four new recreation facilities have b
    14·1 answer
  • Crystal Glasses recently paid a dividend of​ $2.70 per​ share, is currently expected to grow at a constant rate of​ 5%, and has
    15·1 answer
  • Product recall is an example of: Select one: a. prevention costs b. appraisal costs c. internal failure costs d. external failur
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!