The following information applies to Bowling Green Metals Corporation for the year ended December 31, 2010:
|
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 |
Required
Compute earnings per share before extraordinary items and net earnings. Show how this might be presented in the financial statements.