Reference no: EM131012537
Lyon Company shows the following condensed income statement information for the year ended December 31, 2013:
Income before extraordinary items $29,936
Less: Extraordinary loss (net of income tax credit) (2,176)
Net income $27,760
Lyon declared dividends of $6,000 on preferred stock and $17,280 on common stock. At the beginning of 2013, 10,000 shares of common stock were outstanding. On May 4, 2013, the company issued 2,000 additional common shares, and on October 19, 2013, it issued a 20% stock dividend on its common stock. The preferred stock is not convertible.
Show the 2013 income statement disclosure of basic earnings per share. If required, round your answers to the nearest cent.
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Income before extraordinary items
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$ per share
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Extraordinary loss
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per share
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Net income
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$ per share
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