Question: Falconi Academy Surplus had 55 000 shares of common stock and

Falconi Academy Surplus had 55,000 shares of common stock and 5,000 shares of 1%, $10 par value preferred stock outstanding through December 31, 2016. Income from continuing operations for 2016 was $679,750, and loss on discontinued operations (net of income tax saving) was $66,000. Falconi also had an extraordinary gain (net of tax) of $170,500.
Compute Falconi’s earnings per share for 2016, starting with income from continuing operations.

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  • CreatedJune 15, 2015
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