On January 1, 2025, Wildhorse Industries had stock outstanding as follows. 6%...
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Accounting
On January 1, 2025, Wildhorse Industries had stock outstanding as follows.
6% Cumulative preferred stock, $100 par value, issued and outstanding 9,400 shares
$940,000
Common stock, $10 par value, issued and outstanding 219,000 shares
2,190,000
To acquire the net assets of three smaller companies, Wildhorse authorized the issuance of an additional 158,400 common shares. The acquisitions took place as shown below.
Date of Acquisition
Shares Issued
Company A April 1, 2025
51,600
Company B July 1, 2025
76,800
Company C October 1, 2025
30,000
On May 14, 2025, Wildhorse realized a $86,400 (before taxes) insurance gain on discontinued operations. On December 31, 2025, Wildhorse recorded income of $326,400 from continuing operations. Assuming a 20% tax rate, compute the earnings per share data that should appear on the financial statements of Lennon Industries as of December 31, 2025. (Round answer to 2 decimal places, e.g. $2.55.)
Wildhorse Industries
Income Statement:
Income from continuing operations $ ___
Discontinued operations gain, net of tax $ ____
Net Income / (Loss) $ ____
I NEED THE ANSWERS ABOVE. I posted this question and continue to get wrong answers.
(answers should be small decimals)
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