On December 31, 2019, Sandhill Corporation had 140,000 common shares outstanding. On April 30, 2020, the...

On December 31, 2019, Sandhill Corporation had 140,000 common shares outstanding. On April 30, 2020, the company issued an additional 50,000 common shares for cash. On July 31, 2020, the company repurchased and cancelled 20,000 common shares.

During the year ended December 31, 2020, Sandhill earned income before taxes of $40,000,000. Not included in this income was a loss from discontinued operations of $5,000,000 before tax. The company was subject to a 25% income tax rate.

Calculate earnings per share(From continuing operations, Discontinuing operations) data as they should appear on the 2020 income statement of Sandhill Corporation. (Round answers to 2 decimal places, e.g. 52.75.)

Earnings per share
Continuing operations

$
Discontinued operations

Earnings per share

$

Expert Solution

Earing Per share=		Net Income(Profit after Tax)
		Weighrted No of Shrares


Net Income= Earning Before Interest and Taxes-Interest-Tax

PBT=	40,000,000.00
Loss From Disconitiued opertion	5,000,000.00
Net Income for Continued Opearion	35,000,000.00
Tax@25%	8,750,000.00
Net Income for Continued Opearion	26,250,000.00
Weightd No Of Shares		Weight
01.01.2020	140,000.00	0.33	01.01.20 to 30.04.2020
30.04.2020	50,000.00
	190,000.00	0.25	01.05.20 to 31.07.2020
	-20000
01.08.2020	170,000.00	0.42	01.08.20 to 31.12.2020


Weightes shares	165,100.00

EPS	26,250,000.00	158.99	Per share
	165,100.00

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