Chapter 16: Q12BE. (page 875)
The 2017 income statement of Wasmeier Corporation showed net income of \(480,000 and a loss from discontinued operations of \)120,000. Wasmeier had 100,000 shares of common stock outstanding all year. Prepare Wasmeier’s income statement presentation of earnings per share.
Short Answer
Wasmeier’s income statement presentation of earnings per shareis as follows:
Income from discontinued operations $6.00
Discontinued operations (loss) $1.20
Net income $4.80