Question

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

Answer 1

Answer:

$5.60 million

Explanation:

Preparation of the 2021 EPS presentation for the Esposito Import Company.

Earnings per share :

Income from continuing operations $7.00 million

Less: Loss from discontinued operations ($1.40 million)

Net income $5.60 million

Therefore the 2021 EPS presentation for the Esposito Import Company will be $5.60 million