Presented below is financial information of the Sandhill Corporation for 2020. Gain on the sale...
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Presented below is financial information of the Sandhill Corporation for 2020. Gain on the sale of investments 224,000 Net sales 63,000,000 43.400,000 Cost of goods sold Loss on disposal of wholesale division 938,000 Interest revenue 147.000 Loss on Operations of wholesale division 966,000 Selling and administrative expenses 11,480,000 Dividends declared on common stock 476,000 Write off of goodwill 1.092.000 Dividends declared on preferred stock 168,000 Effective tax rate on all items is 35% Sandhill Corporation decided to discontinue its wholesale operations and to retain their manufacturing operations. On July 1. Sandhill sold the wholesale operations. During 2020, there were 800,000 shares of common stock outstanding all year. Compute each of the following. (Round earnings per share answer to 2 decimal places, eg 5.25 and all other answers to decimal placeses 5.275.) 1. Income from operations 2. Income before income tax S 3. $ Income from continuing operations 4 Net Income $ S Earnings per share
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