Question: Please explain the steps to this problem. Not sure why the income part is wrong either Exercise 16-20 Your answer is partially correct . Try

Please explain the steps to this problem. Not sure why the income part is wrong either

Please explain the steps to this problem. Not sure why the income

Exercise 16-20 Your answer is partially correct . Try again On January 1 , 2017 , Swifty ifty Industries had stock outstanding as follows / Cumulative preferred stock , $190 par value , issued and outstanding 9 100 shares $910 ,090 Common stock , $10 par value , issued and outstanding 185 000 shares 1 860 000 To acquire the net assets of three smaller companies , Swifty authorized the issuance of an additional 160 800 common shares . The acquisition cquisitions took place as shown below Date of Acquisition Shares Issued Company A April 1 , 2017 50 400 Company B July 1 2017 79. 200 Company C October 1 , 2017 31 200 On May 14 , 2017 , Swifty realized a $86 400 ( before taxes ) insurance gain on discontinued operat On December 31 , 2017 , Swifty recorded income of $289 200 from canti nuing operations ( after tax ) Assuming a 50 % tax rate , compute the earnings per share data that should appear ould appear on the financial statements of Swifty Industries as of December 31 , 2017 . ( Round answer to 2 deci mal places , e.g $2.55. ) For the Year Ended December 31 , 2017 income From Continuing Operations 289200 Loss From Discontinued Operations Net Income / ( Loss ) Day

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