Chapter 4 The Income Statement and Statement of Cash Flows4

Chapter 4 The Income Statement and Statement of Cash Flows4

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Answers to Questions (concluded) Question 4-14 Earnings per share (EPS) is the amount of income achieved during a period for each share of common stock outstanding. If there are different components of income reported below continuing operations, their effects on earnings per share must be disclosed. If a period contains discontinued operations and extraordinary items, EPS data must be reported separately for income from continuing operations and net income. Per share amounts for discontinued operations and extraordinary items would be disclosed on the face of the income statement. Question 4-15 Comprehensive income is the total change in equity for a reporting period other than from transactions with owners. Reporting comprehensive income can be accomplished with a separate statement or by including the information in either the income statement or the statement of changes in shareholders’ equity. Question 4-16
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This note was uploaded on 01/08/2011 for the course COMM 140x taught by Professor Carver during the Spring '10 term at USC.

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