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On January 1, 2017, Skysong Industries had stock outstanding as follows. 6% Cumulative preferred stock,...

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Accounting

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On January 1, 2017, Skysong Industries had stock outstanding as follows. 6% Cumulative preferred stock, $100 par valuessed and outstanding 10,100 shares $1,010,000 Common stock, $10 par value, issued and outstanding 199,000 shares 1,990,000 To acquire the net assets of three smaller companies, Skysong authorized the issuance of an additional 158 400 common shares. The acquisitions took place as shown below. Date of Acquisition Company A April 1, 2017 Company B July 1, 2017 Company C October 1, 2017 Shares Issued 50,400 78,000 30,000 On May 14, 2017, Skysong realized a $91,200 (before taxes) insurance gain on discontinued operations. On December 31, 2017, Skysong recorded income of $298,800 from continuing operations (after a Assuming a 50% tax rate, compute the earnings per share data that should appear on the financial statements of Skysong Industries as of December 31, 2017. (Round answer to 2 decimal places, . . 52.55.) Skysong Industries Income Statement

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