Question
In: Accounting
On December 31, 2016, Stiller Co., had 840 million common shares outstanding. During 2017, the following...
On December 31, 2016, Stiller Co., had 840 million common shares outstanding. During 2017, the following events occurred:
| January 21 | 24 million, $6, cumulative nonconvertible preferred shares were issued. |
| February 28 | 48 million common shares were purchased and retired. |
| April 30 | A 25% common stock dividend was issued. |
| August 31 | 96 million common shares were issued. |
No cash dividends were declared in 2017. For the year ended
December 31, 2017, Stiller Co. reported a net loss of $50 million,
including an after-tax loss of $500 million from discontinued
operations. Please make sure your final answer(s) are accurate to 2
decimal places.
(a) Determine Stiller Co.'s net loss per share for the year ended
December 31, 2017. Enter the loss as a negative number.
(b) Determine the per share amount of income or loss from continuing operations for the year ended December 31, 2017.
(c) Determine the per share amount of income or loss from
continuing operations for the year ended December 31, 2016 that
would be appropriate to appear on Stiller Co.'s 2017 and 2016
comparative income statements. Assume EPS were reported in 2016 as
$0.75, based on net income (no discontinued operations items) of
$600 million and a weighted-average number of common shares of 840
million.
Solutions
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