Acc423 Intermediate Accounting: AE16-20 On January 1, 2012, Bailey Industries had stock

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Acc423 Intermediate Accounting

AE16-20 EPS: Simple Capital Structure
On January 1, 2012, Bailey Industries had stock outstanding as follows.
6% Cumulative preferred stock, $116 par value,
issued and outstanding 10,500 shares 1,218,000
Common stock, $10 par value, issued and
outstanding 202,800 shares 2,028,000
To acquire the net assets of three smaller companies, Bailey authorized the issuance of an additional 271,200 common shares. The acquisitions took place as shown below.
Date of Acquisition Shares Issued
Company A April 1, 2012 105,600
Company B July 1, 2012 124,800
Company C October 1, 2012 40,800
On May 14, 2012, Bailey realized a $140,400 (before taxes) insurance gain on the expropriation of investments originally purchased in 2000.
On December 31, 2012, Bailey recorded net income of $312,000 before tax and exclusive of the gain.

Assuming a 42% tax rate, compute the earnings per share data that should appear on the financial statements of Bailey Industries as of December 31, 2012. Assume that the expropriation is extraordinary. (Round answer to 2 decimal places, e.g. $2.55.)
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