Accounting: What the Numbers Mean 9th Edition by Wayne W McManus, Daniel F Viele, David H Marshall

Exercise 52

For the following questions, circle the best respones.

Earnings per share calculations are required on the income statement for

a. Cost of goods sold, depreciation expense, and income from continuing operations.

b. Discontinued operations, depreciation expense, and net income.

c. Extraordinary items, income from continuing operations, and discontinued operations.

d. Income tax expense, extraordinary items, and net income.

e. Cost of goods sold, discontinued operations, and extraordinary items.

Step 1 of 5

(a)

Earnings per share calculations on the income statement are not required for cost of goods sold or depreciation expense. They are required for income from continuing operations.