Chat with us, powered by LiveChat on January 1 ,2017, Pronghorn Industries had stock - Writemia

on January 1 ,2017, Pronghorn Industries had stock

on January 1 ,2017, Pronghorn Industries had stock outstanding as follows6% cumulative preferred stock, $100 par value, issued and outstanding 9,600 shares$960,000common stock, $10 par value, issued and outstanding 181,000 shares$1,810,000To acquire the net assets of three smaller companies,Pronghorn authorized the issuance of an additional 159,600 common shares The acquisitions took place as shown belowDate of Acquisition Shares IssuedCompany A April 1, 2017 49,200Company B July 1, 2017 79,200Company C October 1, 2017 31,200On May 14, 2017, Pronghorn realized a $90,000 (before taxes) insurance gain on discontinued operationsOn December 31, 2017, Pronghorn recorded income of $312,000 from continuing operations (after tax)Assuming a 50% tax rate, compute the earning per share data that should appear on the financial statements of Pronghorn Industries as of December 31,2017

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