Determine ainsworth''s net loss per share

Assignment Help Accounting Basics
Reference no: EM13879775

1.On December 31, 2012, Ainsworth, Inc., had 600 million shares of common stock outstanding. Twenty million shares of 8%, $100 par value cumulative, nonconvertible preferred stock were sold on January 2, 2013. On April 30, 2013, Ainsworth purchased 30 million shares of its common stock as treasury stock. Twelve million treasury shares were sold on August 31. Ainsworth issued a 5% common stock dividend on June 12, 2013. No cash dividends were declared in 2013. For the year ended December 31, 2013, Ainsworth reported a net loss of $140 million, including an after tax extraordinary loss of $400 million from a litigation settlement.

Required:
1. Determine Ainsworth's net loss per share for the year ended December 31, 2013.
2. Determine the per share amount of income or loss from continuing operations for the year ended December 31, 2013.
3. Prepare an EPS presentation that would be appropriate to appear on Ainsworth's 2013 and 2012 comparative income statements. Assume EPS was reported in 2012 as $.75, based on net income (no extraordinary items) of $450 million and a weighted average number of common shares of 600 million.

Reference no: EM13879775

Questions Cloud

What should be the price of the security you are considering : what should be the price of the security you are considering purchasing?
Compute the accrued interest by the theoretical method : Compute the accrued interest by the theoretical method at 8.5% and also by the practical method. Find the split of the accrued interest by the theoretical method at 8.5% into interest and principal.
Discuss the causes and implications of the common mistakes : Discuss the causes and implications of the following common mistakes made by North Americans in their negotiations with international business partners: Assuming that a final agreement is set in stone
Explain what determines if a person is in the labour force : Describe the trends and fluctuations in the unemployment rate in Australia from 1980 to 2014 (the data can be downloaded from the Australian Bureau of Statistics).
Determine ainsworth''s net loss per share : 1.On December 31, 2012, Ainsworth, Inc., had 600 million shares of common stock outstanding.
What are the characteristics of a performance-driven team : What differentiates someone that is intrinsically motivated from someone that is extrinsically motivated - Give an example of how you would go about motivating an individual who is intrinsically motivated and one who is extrinsically motivated.
Explain how networking is used in conjunction : In an essay of 350-500 words, explain how networking is used in conjunction with public relations. Provide two examples of how successful entrepreneurs have used public relations and networking to their business' advantage
Lose money by selling your home within that time : Some think that the longer you stay in a house that you have financed, the better the investment. Is this true? Why, or why not? Is there a period of time when you would lose money by selling your home within that time? If so, how does that work?
What type of communication tool would you use : You have an idea to improve patient care that you would like upper management to support and fund - What type of communication tool would you use to present your idea and why?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Prepare a comparative common-size income statement

Prepare a comparative common-size income statement for Stamps Music Ltd. using the 2014 and 2013 data of exercise E13-14 and rounding percentages to one-tenth percent

  Problem related to marginal tax rate for firm

For the year ending June 30, 2008, the Austin Corporation has current assets of $ 275,000 and total assets of $ 900,000. It also has current liabilities of $ 150,000, equity of $ 200,000, and retained earnings of $ 100,000. The marginal tax rate f..

  Lakshmi is single and provides you with the following tax

lakshmi is single and provides you with the following tax information for 2012 salary 200000 bank account interest 1000

  Give a dollar range of costs to reduce budgets worst and

i am the chief administrator of uptown clinic a community mental health agency i am concerned about the dilemma of

  The ward county hospital center wchc wants to buy a new

the ward county hospital center wchc wants to buy a new mobile primary care van to use in screening residents in an

  Cost and an allowance account

Prepare journal entries required at December 31, 2010, and December 31, 2011, assuming that the inventory is recorded at cost and an allowance account is adjusted at each year-end under a perpetual system.

  Prepare a reconciliation schedule to reconcile 2011 net

s. a. harrington company is a u.s.-based company that prepares its consoli- dated financial statements in accordance

  Journalize the adjusting entries

Journalize the adjusting entries

  Determine amazings postretirement benefit expense

Determine Amazing's postretirement benefit expense for the current year. Prepare the journal entry to record the benefit expense for the current year.

  Which of the following belong in the current assets section

which of the following belong in the current assets section of the balance sheet?a. cashb. short term investmentsc.

  Comparative and ratio analysis

Write a paper that is at least 750 words in which you discuss the difference between comparative and ratio analysis. Differentiate and share the purpose and importance of each.

  Willie meets with the cfo and tells him that the policy is

willie lowman is the internal auditor for dead salesman printing a book printing company. in the book printing business

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd