The 2017 income statement of Tanel Corporation showed net income of $860,000, which included a loss from

Question:

The 2017 income statement of Tanel showed net income of $860,000, which included a loss from discontinued operations of $140,000. Tanel had 25,000 common shares outstanding all year.
(a) Calculate earnings per share for 2017 as it should be reported to shareholders.
(b) Discuss why Tanel Corporation's reporting of earnings per share is useful to financial statement users.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...