problem 12-1A

k ces Problem 13-1A Earnings per share calculations and presentation LO1, 2, 3, 4 Except for the earnings per share statistics, the 2019, 2020, and 2021 income statements for Ace Group Inc. were originally presented as follows: Required: 1. Calculate the 11 missing amounts. (Loss should be indicated by a minus sign.) Sales Costs and expenses Profit from continuing operations Gain (loss) on discontinued operations Profit (loss) 2019 2020 $ 485,85 $ 706,040 $ 318,935 85,160 $ 157,994 $ 537,700 2021 $1,017,900 333,070 (112,075) Information on Common Shares for Ace Group Inc. * Shares outstanding on December 31, 2018 Purchase and retirement of shares on March 1, 2019 Sale of shares on June 1, 2019 Share dividend of 5% on August 1, 2019 Shares outstanding on December 31, 2019 Sale of shares on February 1, 2020 Purchase and retirement of shares on July 1, 2020 Shares outstanding on December 31, 2020 Sale of shares on March 1, 2021 Purchase and retirement of shares on September 1, 2021 Share split of 3:1 on October 1, 2021 Shares outstanding on December 31, 2021 I + + I + + I + 38,300 4.780 16.280 7,660 2.390 20,360 6.450 *No preferred shares have been issued. 2. Calculate the weighted-average number of common shares outstanding during the following years: (Do not round intermediate calculations. Round your answers to nearest whole number.) Weighted-average outstanding shares 2019 Profit from continuing operations Gain (Loss) from discontinued operations 2020 3. Prepare the earnings per share income statement presentation during the following years: (Round your answers to 2 decimal places. Negative amounts should be indicated by a minus sign.) 2019 0.00 $ Prev 2021 2020 0.00 1 of 8 2021 0.00 Next