On January 1, 2012, Bailey Industries had stock outstanding as follows:
6% Cumulative preferred stock, $118 par value,
issued and outstanding 11,500 shares |
|
$1,357,000 |
Common stock, $10 par value, issued and
outstanding 219,600 shares |
|
2,196,000 |
To acquire the net assets of three smaller companies, Bailey authorized the issuance of an additional 296,400 common shares. The acquisitions took place as shown below.
|
Date of Acquisition
|
|
Shares Issued
|
| Company A April 1, 2012 |
|
116,400 |
| Company B July 1, 2012 |
|
140,400 |
| Company C October 1, 2012 |
|
39,600 |
On May 14, 2012, Bailey realized a $150,000 (before taxes) insurance gain on the expropriation of investments originally purchased in 2000.
On December 31, 2012, Bailey recorded net income of $356,400 before tax and exclusive of the gain.
Assuming a 50% tax rate, compute the earnings per share data that should appear on the financial statements of Bailey Industries as of December 31, 2012. Assume that the expropriation is extraordinary