4/23/2016 1:47:57 AM
Answer the following Accounting numerical problem by presenting the complete step by step procedure.
Question:
On December 31, 2012 Ainsworth, Inc... had 600 million shares of the common stock outstanding. 20 million shares of 8%, $100 par value cumulative. Non-convertible preferred stock was sold on January 2. 2013. On April 30, 2013. Ainsworth bought 30 million shares of its common stock as treasury stock. 12 million treasury shares were sold on August 31. Ainsworth issued a 5% common stock dividend on June 12. 2013. No cash dividends were stated in the year 2013. For year ended December 31. 2013, Ainsworth reported a total loss of $140 million, comprising an after-tax extraordinary loss of $400 million from the litigation settlement.
Requisite:
Q1. Find out Ainsworth's total loss per share for the year ended December 31. 2013.
Q2. Find out the per share amount of income or loss from ongoing operations for the year ended December 31, 2013.