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The senior accountant for Carlton Co., a public company with a complex capital structure, has just finished preparing Carlton’s income statement for the current fiscal year. While reviewing the income statement, Carlton’s finance director noticed that the earnings per share data has been omitted. What changes will have to be made to Carlton’s income statement as a result of the omission of the earnings per share data? A. Carlton’s income statement will only have to be revised to include the earnings per share data if Carlton’s market capitalization is greater than $5,000,000. B. Carlton’s income statement will only have to be revised to include the earnings per share data if Carlton’s net income for the past two years was greater than $5,000,000. C. No changes will have to be made to Carlton’s income statement. The income statement is complete without the earnings per share data. D. Carlton’s income statement will have to be revised to include the earnings per share data. |