Question: The net income reported on the income statement of Bellach

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.


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  • CreatedFebruary 04, 2014
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