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MariettaO [177]
3 years ago
12

The Esposito Import Company had 1 million shares of common stock outstanding during 2021. Its income statement reported the foll

owing items: income from continuing operations, $7 million; loss from discontinued operations, $1.4 million. All of these amounts are net of tax. Required: Prepare the 2021 EPS presentation for the Esposito Import Company. (Amounts to be deducted should be indicated with a minus sign. Round your answers to 2 decimal places.)
Business
1 answer:
borishaifa [10]3 years ago
5 0

Answer:

Explanation:

The preparation of the 2021 EPS presentation for the Esposito Import Company is shown below:

Income from continuing operations                           $7 million

Less: Loss from discontinued operations                  ($1.4 million)

Net income                                                   $5.6 million

Now the earning per share would be

Earning per share = (Net income) ÷ (Number of shares)

                              = ($5.6 million) ÷ (1 million shares)

                              = $5.6 per share

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