On January 1, 2012, Bailey Industries had stock outstanding as follows.
6% Cumulative preferred stock, $109 par value,
issued and outstanding 10,200 shares
|
|
$1,111,800 |
Common stock, $11 par value, issued and
outstanding 288,000 shares |
|
3,168,000 |
To acquire the net assets of three smaller companies, Bailey authorized the issuance of an additional 204,000 common shares. The acquisitions took place as shown below.
| Date of Acquisition |
|
Shares Issued |
| Company A April 1, 2012 |
|
70,800 |
| Company B July 1, 2012 |
|
93,600 |
| Company C October 1, 2012 |
|
39,600 |
On May 14, 2012, Bailey realized a $108,000 (before taxes) insurance gain on the expropriation of investments originally purchased in 2000.
On December 31, 2012, Bailey recorded net income of $325,200 before tax and exclusive of the gain.
Assuming a 42% tax rate, compute the earnings per share data that should appear on the financial statements of Bailey Industries as of December 31, 2012. Assume that the expropriation is extraordinary.