Question 10 of 10 - Chapter 4 Homework 2024-02-15, 13:05

Chapter 4 Homework

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At December 31, 2023, Ayayai Corporation had the following shares outstanding:

6% cumulative preferred shares, 100,000 shares outstanding $10,000,000

Common shares, 3,800,000 shares outstanding 19,000,000

During 2023, the corporation’s only share transaction was the issuance of 300,000 common shares
on April 1. During 2023, the following also occurred:

Income from continuing operations before tax $22,000,000

Discontinued operations (loss before tax) 3,000,000

Preferred dividends declared 600,000

Common dividends declared 2,100,000

Effective tax rate 30%

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Question 10 of 10 - Chapter 4 Homework 2024-02-15, 13:05

Calculate earnings per share information as it should appear in the financial statements of Ayayai
for the year ended December 31, 2023. (Round
(Round perper share
share answers
answers to to 22 decimal
decimal places,
places, e.g.
e.g.
52.75.)
52.75.)

Earnings per Share

Income from Continuing Operations $ 3.97

Discontinued Operations - 0.55 

Net Income $ 3.42

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