Determine the per share figures for common stock

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Reference no: EM13257981

The net income reported on the income statement of Ground Hog Co. was $1,250,000. There were 250,000 shares of $40 par common stock and 50,000 shares of $10 preferred stock out standing throughout the current year. The income statement included two extraordinary items: a $360,000 gain from condemnation of landand a $235,000 loss arising from flood damage, both after applicable income tax.

Determine the per share figures for common stock for (a) income before extraordinary items and (b) net income.

Reference no: EM13257981

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