The 2014 income statement of Wasmeier Corporation showed net income of $732,000 and an extraordinary loss of $154,000

Accounting May 23, 2021

The 2014 income statement of Wasmeier Corporation showed net income of $732,000 and an extraordinary loss of $154,000. Wasmeier had 100,000 shares of common stock outstanding all year. Prepare Wasmeier’s income statement presentation of earnings per share

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Answer:

Wasmeier Corporation
Income Statement 2014
Particulars	Amount
Income Before Extra ordinary items	886,000
Less : Extra ordinary Loss	(154,000)
Net Income	732,000
No of common stock outstanding	100,000
Earnings per share	7.32

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