The capital structure of Morgan Products Inc. at December 31, 2013, included 20,000 $1.25 preferred.
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The capital structure of Morgan Products Inc. at December 31, 2013, included 20,000 $1.25 preferred shares and 44,000 common shares. During 2014, Morgan issued common shares and ended the year with 58,000 shares. The average number of common shares outstanding for the year was 51,000. Income from continuing operations during 2014 was $81,100. The company discontinued a segment of the business at a gain of $6,630, and unrealized losses on derivatives generated a loss of $16,000. All amounts are after income tax. Requirement Compute Morgan’s earnings per share. View Solution:
The capital structure of Morgan Products Inc at December 31
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