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Income Statement and Financial Statements

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The following information applies to Bowling Green Metals Corp. for the year ended December 31, 2003.

Total revenues from regular operations $832,000
Total expenses from regular operations 776,000
Extraordinary gain, net of applicable income taxes 30,000
Dividends paid 20,000
Number of shares of common stock outstanding
During the year 10,000

Compute earnings per share before extraordinary items and net earnings. Show how this might be presented in the financial statements.

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Solution Summary

This solution contains a computation of earnings per share before extraordinary items and net earnings. All calculations are shown in an Excel file in the form of a financial statements.

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