To acquire the net assets of three smaller companies, Bailey authorized the issuance of an additional 170,000 common shares. The acquisitions took place as shown below:
Company A April 1, 2012 = 60,000 shares issued.
Company B July 1, 2012 = 80,000 shares issued.
Company C October 1, 2012 = 30,000 shares issued.
On May 14, 2012, Bailey realized a $90,000(before taxes) insurance gain on the expropriation of investments originally purchased in 2000. on December 31, 2012, Bailey recorded net income of $300,000 before tax and exclusive of the gain.
Assuming a 40% 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.
Recently Asked Questions
- 1. What is Elasticity (SRE) and Long-Run Elasticity (LRE) ? 2. Explain the four common congestion pricing strategies in use. 3. On an HOT lane what
- This is an assignment that requires the software and knowledge of SPSS. Attached is the assignment in detail. Thank you
- List the best data entry method and your reason for choosing it for each of the two situations listed below: Turnaround document for a utility company that