On
January 1, 2017 Headland Industries had stock outstanding 9700
shares $970000
Common stock $10 par value, issued and outstanding 200000
shares 2000000
To acquire the net assets of three smaller companies, Headland
authorized the issuance of an additional 157200 common shares. The
aquisitions took place as shown below.
Date of Aquisition. Shares Issued
Company A April 1, 2017. 48000
Company B July 1, 2017. 78000
Company C October 1 2017. 31200
On May 14, 2017 Headland realized a $92400 (before taxes)
insurance gain on discontinued operations.
On Decemeber 31, 2017 Headland recorded income of $291600 from
continuing operations (after tax).
Assuming a 50% tax rate compute the earnings per share data
that should appear on the financial statements of Headland
Industries as of December 31, 2017.