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Calculate earnings per share should be reported

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Reference no: EM132553834

Blossom Inc., a publicly traded company, had 291,000 common shares outstanding on December 31, 2019. During 2020, the company issued 9,000 shares on May 1 and retired 12,000 shares on October 31. For 2020, the company reported net income of $277,190 after a loss from discontinued operations of $38,000 (net of tax).

Question 1: Calculate earnings per share for 2020 as it should be reported to shareholders:

Income per share before discontinued operations

Discontinued operations loss per share, net of tax

Net income per share

Question 2: Assume that Blossom Inc. issued a 3-for-1 stock split on January 31, 2021, and that the company's financial statements for the year ended December 31, 2020 were issued on February 15, 2021. Calculate earnings per share for 2020 as it should be reported to shareholders:

Income per share before discontinued operations

Discontinued operations loss per share, net of tax

Net income per share

Reference no: EM132553834

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