The net income reported on the income statement of Bellach Co. was $4,100,000. There were 250,000 shares

Question:

The net income reported on the income statement of Bellach Co. was $4,100,000. There were 250,000 shares of $40 par common stock and 60,000 shares of $3 preferred stock par value $100 outstanding throughout the current year. The income statement included two extraordinary items: a $600,000 gain from condemnation of land and a $150,000 loss arising from flood damage, both after applicable income tax. Determine the per-share figures for common stock for

(a) Income before extraordinary items and

(b) Net income.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... 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,...