Parsley Corporation Had 250,000 Shares of Common Stock and 5,000

question 33

Essay

Parsley Corporation had 250,000 shares of common stock and 5,000 shares of 8%, $100 par, preferred stock outstanding on December 31, 2017. The preferred stock is cumulative, nonconvertible preferred stock. On June 1, 2018, Parsley sold 36,000 shares of common stock for cash. No cash dividends were declared for 2018. Parsley reported a net loss of $320,000 for the year ended December 31, 2018.
Required:
Calculate Parsley's loss per share (rounded to 2 decimal places) for the year ended December 31, 2018.

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Definitions:

Top Managers

Individuals occupying the highest level of management in an organization who are responsible for setting strategic goals and making pivotal decisions.

Diversity

The inclusion of individuals with a wide range of characteristics and backgrounds, such as ethnicity, gender, age, sexual orientation, and beliefs, in a group or organization.

Breadwinner

Traditionally refers to the primary or sole income earner within a household, responsible for financial support.

Reemployed

The state of being employed again after a period of unemployment.