Parsley Corporation had 250,000 shares of common stock and 5,000 shares of 8%,$100 par,preferred stock outstanding on December 31,2015.The preferred stock is cumulative,nonconvertible preferred stock.On June 1,2016,Parsley sold 36,000 shares of common stock for cash.No cash dividends were declared for 2016.Parsley reported a net loss of $320,000 for the year ended December 31,2013.
Required:
Calculate Parsley's loss per share (rounded to 2 decimal places)for the year ended December 31,2016.

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The Answer of Parsley Corporation had 250,000 shares of common stock and 5,000 shares of 8%,$100 par,preferred stock outstanding on December 31,2015.The preferred stock is cumulative,nonconvertible preferred stock.On June 1,2016,Parsley sold 36,000 shares of common stock for cash.No cash dividends were declared for 2016.Parsley reported a net loss of $320,000 for the year ended December 31,2013.
Required:
Calculate Parsley's loss per share (rounded to 2 decimal places)for the year ended December 31,2016.

Parsley Corporation Had 250,000 Shares of Common Stock and 5,000