Reference no: EM132672403

Problem 1: IFRS requires that expenses be presented in the income statement

Option 1: by nature or by function.

Option 2: by current or non-current.

Option 3: by geographical area or by the single-step method.

Option 4: by amount or in alphabetical order.

Problem 2: Rudolph Corporation reports the following information:

Net income......................................................................................... $900,000

Dividends on common shares.............................................................. $252,000

Dividends on preferred shares............................................................. $ 90,000

Weighted average common shares outstanding................................... 300,000

Rudolph should report earnings per share of

Option 1: $3.00.

Option 2: $2.70.

Option 3: $2.16.

Option 4: $1.86.