Accounting

1. Daniel Company has 500,000 shares of common stock issued and 300,000 shares of common stock outstanding.

Determine the earnings per share for 2010 if its net income is $180,000.

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2. Pearson Corporation has 50,000 shares of common stock outstanding and 10,000 shares of $100 par value, 4 percent preferred stock outstanding. Determine the earnings per share for common stock for 2010 if net income is $350,000.

1. Cox Enterprises had 200,000 shares of common stock outstanding on January 1, 2010, and issued an additional 50,000 shares on March 31, 2010. Determine the earnings per share for calendar 2010 if net income was $300,000.

2. Guan Company had 200,000 shares of common stock outstanding on January 1, 2010, and repurchased 60,000 shares of common stock on March 31, 2010.

Determine the earnings per share for calendar 2010 if net income was $400,000.

Leonard Corporation had assets of $1,000,000 expropriated in another country during 2010 with a resulting extraordinary loss on the expropriation of $600,000. Leonard’s income tax rate is 40 percent.

What is the extraordinary gain (loss) shown on the income statement for 2010? Show your calculations.

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