Athens Holding Company operates numerous businesses, including motel, auto rental, and real estate companies. The year 2016 was interesting for Athens, which reported the following on its income statement (in millions):
Net revenues.......................................................$3,931
Total expenses and other..........................................3,355
Income from continuing operations.............................$ 576
Loss from discontinued operations, net of tax..................(85)
Net income..........................................................$491
During 2016, Athens had the following (in millions, except for par value per share):
Common stock, $0.05 par value, 600 shares issued.......................$ 30
Treasury stock, 200 shares at cost........................................(3,700)
Requirement
1. Using the end-of-chapter summary problem as an example, show how Athens should report earnings per share for 2016; round EPS to the nearest cent.