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Prepare the earnings per share section of Gallant Company

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Reference no: EM133073194

Question - Gallant Company reported net income of $2,500,000. The income statement included a $200,000 loss on discontinued operations, after applicable income tax. There were 100,000 shares of $10 par common stock and 40,000 shares of 4% preferred stock of $100 par outstanding throughout the current year. Prepare the earnings per share section of Gallant Company's income statement.

Reference no: EM133073194

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