Covey Holding Company operates numerous businesses, including motel, auto rental, and real estate companies. The year 2014
Question:
Net revenues................................................................ $3,972
Total expenses and other.............................................. 3,227
Income from continuing operations.............................. 745
Income from discontinued operations, net of tax ......... 92
Income before extraordinary item................................ 873
Extraordinary gain, net of tax...................................... 6
Net income................................................................... $ 843
During 2014, Covey had the following (in millions, except for par value per share):
Common stock, $ 0.02 par value, 850 shares issued................ $ 17
Treasury stock, 210 shares at cost........................................... (3,542)
Requirement
1. Using the end- of- chapter summary problem (pages 637– 638) as an example, show how Covey should report earnings per share for 2014; round EPS to the nearest cent.
Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...
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Related Book For
Financial Accounting
ISBN: 978-0133427530
10th edition
Authors: Walter Harrison, Charles Horngren, William Thomas
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