2. The Charter Company had a number of nonrecurring and/or noncash
components of income from continuing operations in 1983. Beginning with the 1983 earnings from continuing operations, adjust this figure for nonrecurring and/or noncash items (information for these adjustments are included in Exhibit 1 (p. 3), Exhibit 3 (p. 6), and Exhibit 4 (pp. 7 - 8)).
3. Based on the information presented in the case, discuss the extent to which the stock market, in the aggregate, anticipated Charter's problems and priced its common stock accordingly (see Exhibit 5 (p. 9)).