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6 September, 20:18

The Esposito Import Company had 1 million shares of common stock outstanding during 2021. Its income statement reported the following items: income from continuing operations, $7 million; loss from discontinued operations, $1.4 million. All of these amounts are net of tax. Required: Prepare the 2021 EPS presentation for the Esposito Import Company. (Amounts to be deducted should be indicated with a minus sign. Round your answers to 2 decimal places.)

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  1. 6 September, 22:08
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    The preparation of the 2021 EPS presentation for the Esposito Import Company is shown below:

    Income from continuing operations $7 million

    Less: Loss from discontinued operations ($1.4 million)

    Net income $5.6 million

    Now the earning per share would be

    Earning per share = (Net income) : (Number of shares)

    = ($5.6 million) : (1 million shares)

    = $5.6 per share
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