At January 1, 2014, Foxmore Company Had 80,000 Shares of Common

question 141

Multiple Choice

At January 1, 2014, 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, 2014, Foxmore had 120,000 shares of common stock outstanding, and no preferred stock. In addition, Foxmore reported the following results for the year 2014: At December 31, 2014, how much is the earnings per share for income (loss) for extraordinary items?
(Please round all calculations to the nearest cent.)

• A)$(1.20)
• B)$7.85
• C)$10.65
• D)$(2.80)

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Definitions:

Supply Savings

The reduction in costs achieved through efficient supply management practices, including negotiation, strategic sourcing, and procurement efficiencies.

Market Changes

Refers to the fluctuations and transformations in the dynamics of a market, influenced by factors like consumer behavior, economic policies, and technological advancements.

Technology Changes

Refers to the process of adopting new and improved technologies, often leading to innovation and transformation in various sectors.

Cumulative Savings

Total savings accumulated over time usually as a result of cost-saving strategies and efficiencies.