Cortez, Inc Accounting help please!!?

Cortez Inc Accounting Question?


Cortez INC. income statement assistance?


2003 2004 2005


Net sales $370,000 $425,000 $412,500


Operating expenses 232,500 260,000 245,500


Income from continuing operations $137,500 $165,000 $167,000


Loss on discontinued segment (52,500) - -


Income before extraordinary items $85,000 $165,000 $167,000


Extraordinary gain (loss) - 33,000 (70,000)


Net income $85,000 $198,000 $97,000





Changes in number of outstanding shares:


Outstanding shares on December 31, 2002 40,000


2003:


Treasury stock purchase on April 1 (4,000)


Issuance of new shares on June 30 12,000


10% stock dividend on October 1 4,800


Outstanding shares on December 31, 2003 52,800


2004:


Issuance of new shares on July 1 16,000


Treasury stock purchase on November 1 (4,800)


Outstanding shares on December 31, 2004 64,000


2005:


Issuance of new shares on August 1 20,000


Treasury stock purchase on September 1 (4,000)


Three-for-one split on October 1 160,000


Outstanding shares on December 31, 2005 240,000





Check figures:


(1) Shares $47,300


(2) EPS 2


(3) Shares 60,000


(4) EPS 3



I%26#039;ve sent the Excel file to that address you gave me.


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