Throughout the year, Johnson Inc. had the following shares outstanding. There were no shares issued or...

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Accounting

Throughout the year, Johnson Inc. had the following sharesoutstanding. There were no shares issued or repurchased during theyear.
Preferred shares, $3.00, unlimited number authorized,60,000issued and outstanding $12,000,000
Common shares, unlimited number authorized, 420,000 issued andoutstanding . 24,000,000
Total contributed capital $36,000,000
Net income for the year was $ 1,590,000.
Loss from discontinued operations (net of tax)of $-159,000wasincluded in net income for the year.
Required:
Prepare the basic EPS presentation for the company assuming:
1.The preferred shares are non-cumulative, preferred dividendsof $180,000were paid during the year.
2.The preferred shares are non-cumulative, and no dividends werepaid during the year.
3.The preferred shares are cumulative, and no dividends werepaid during the year.
4.The preferred shares are cumulative, and 2years of dividendsand the current dividends were paid in the year.

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Earnings Per Share EPS Net Income Preferred DividendsOutstanding Common Shares Before that the loss from the discontinued operations net of taxes should be deducted Net income after deducting the loss from the discontinued operations net See Answer

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Throughout the year, Johnson Inc. had the following shares outstanding. There were no shares issued or...

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Accounting

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