Response to the following problem:
The following information applies to Bowling Green Metals Corporation for the year ended December 31, 2012:
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.