At January 1, 2013, Foxmore Company Had 80,000 Shares of Common

question 88

Essay

At January 1, 2013, Foxmore Company had 80,000 shares of common stock outstanding and no preferred stock. During the year they issued 40,000 additional shares of common stock. At December 31, 2013, Foxmore had 120,000 shares of common stock outstanding, and no preferred stock. In addition, Foxmore reported the following results for the year 2013:
$$\begin{array} { | l| r } \hline \text { Sales revenues from regular business operations } & \$ 3,000,000 \\\hline \text { Cost of goods sold } & 900,000 \\\hline \text { Operating expenses from their regular business operations } & 600,000 \\\hline \text { Gain on disposal of several items of property, plant \& equipment } & 15,000 \\\hline \text { Income tax expense on continuing operations } & 330,000 \\\hline \text { Loss on the termination of a discontinued business segment, net of } & \\ \text { tax } & 120,000 \\\hline \text { Losses on damage caused by earthquake, net of tax } &280,000 \\\hline\end{array}$$
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Please prepare earnings per share information in the following format. (Round all amounts to nearest cent.)
$$\begin{array} { | l | l | } \hline \text { Earnings per share } &\quad\quad\quad\quad \\\hline \text { Income (loss) from continuing operations } & \\\hline \text { Income (loss) from discontinued operations } & \\\hline \text { Income (loss) before extraordinary items } & \\\hline \text { Extraordinary loss } & \\\hline \text { Net income (loss) } & \\\hline\end{array}$$

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