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Calculate earnings per share data

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On December 31, 2019, Ivanhoe Corporation had 140,400 common shares outstanding. On April 30, 2020, the company issued an additional 51,000 common shares for cash. On July 31, 2020, the company repurchased and cancelled 21,000 common shares.

During the year ended December 31, 2020, Ivanhoe earned income before taxes of $40,000,000. Not included in this income was a loss from discontinued operations of $5,000,000 before tax. The company was subject to a 25% income tax rate.

Problem 1: Calculate earnings per share data as they should appear on the 2020 income statement of Ivanhoe Corporation.

Reference no: EM132788422

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