Part D - Information given in the problem:  
    Income from continuing operations, net of tax $1,470,000
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    Gain from a discontinued division, net of tax 120,000
    Loss from flood due to heavy rain, net of tax  390,000
    Gain from change in accounting method (LIFO to FIFO),  
        net of tax   300,000
    Dividends to its preferred shareholders at year-end. $600,000
    Shares of  Johnson Company common stock outstanding 100,000
    Required: Report earnings per share.
1.  Income from continuing operations
2.  Discontinued operations, net of tax
3.  Income before extraordinary items and cumulative effect of an accounting change
4.  Extraordinary item, net of tax
5.  Income before cumulative effect of an accounting change  
6.  Change in accounting principle, net of tax  
7. 

 Net income
      

 

 

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