Reference no: EM132893903

Problem - Below are the account balances for Joss Corporation as of its fiscal year ended April 30, 2020.

Sales $320,000

Selling Expenses $100,000

Administrative Expenses $32,000

Cost of Goods Sold $160,000

Discontinued Operations:

(1) Income from Discontinued Operations: $40,000

(2) Loss on Disposal of discontinued Segment: $28,000

Income Taxes applicable 40%

Common stock outstanding: $4 par $20,000

Required - Calculate the EPS, assuming 5,000 shares of common stock were outstanding during the year.