a.

Based on the informationprovided, compute basic and diluted earnings per share for the current year. Include all computations related to the application of antidilution sequencing if needed.

b.

Prepare the income statement disclosures required beginning with income from continuing operations.

Question Help i Partial Income Statement - X ese ject to a 40% income tax rate. i Partial Balance Sheet - X lic al lic Partial Income Statement Current Year Income from Continuing Operations $ 1,250,590 Partial Balance Sheet Current Year he Liabilities: Discontinued operations-Income, net of tax 538,460 7% Convertible Debt - Issued at $1,000 par(1) $8, 121,000 $ rer Net Income 1,789,050 s per share (EPS) for the current Stockholders' Equity: by e securities and ranking their orde Common Stock, no par (1,031,000 shares issued and outstanding)(2) $5,230,000 ts to the nearest cent, $X.XX.) Print Done $3 Convertible Preferred Stock, $100 par value (42,600 shares issued and 4,260,000 Rank Order of outstanding)() (1,862,500) tially Dilutivo Increase Number of Income nor Entry into the EPS Additional Paid-in Capital - Stock Options (employee options to acquire 167,750 shares)(4) i Requirements X on Footnotes to the Balance Sheet: (1) Each bond is convertible into 85 shares of common stock. The bonds are outstanding all year. (2) The number of shares issued and outstanding did not change throughout the year. a. Based on the information provided, compute basic and diluted earnings per share for the current year. Include all computations related to the application (3) Each preferred share is convertible into seven shares of common stock. The firm declared of antidilution sequencing if needed. preferred dividends. The preferred stock was outstanding all year. b. Prepare the income statement disclosures required beginning with income (4) The options are exercisable at $21 per share, and the average market price of the company's from continuing operations. stock for the year is $35. The options were outstanding all year. Print Done Print Done from any list or enter any number in the input fields and then click Check