Reference no: EM132619300
Question - On January 1, 2017, Blue Industries had stock outstanding as follows.
6% Cumulative preferred stock, $100 par value, issued and outstanding 9,700 shares $970,000Common stock, $10 par value, issued and outstanding 203,000 shares 2,030,000
To acquire the net assets of three smaller companies, Blue authorized the issuance of an additional 163,200 common shares. The acquisitions took place as shown below.
Date of Acquisition Shares Issued
Company A April 1, 2017 49,200
Company B July 1, 2017 82,800
Company C October 1, 2017 31,200
On May 14, 2017, Blue realized a $91,200 (before taxes) insurance gain on discontinued operations.
On December 31, 2017, Blue recorded income of $330,000 from continuing operations (after tax).
Assuming a 50% tax rate, compute the earnings per share data that should appear on the financial statements of Blue Industries as of December 31, 2017.
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