Parsley Corporation had 250,000 shares of common stock and 5,000 shares of 8%, $100 par, preferred stock outstanding on December 31, 2017. The preferred stock is cumulative, nonconvertible preferred stock. On June 1, 2018, Parsley sold 36,000 shares of common stock for cash. No cash dividends were declared for 2018. Parsley reported a net loss of $320,000 for the year ended December 31, 2018.
Required:
Calculate Parsley's loss per share (rounded to 2 decimal places) for the year ended December 31, 2018.

Question

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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, 2017. The preferred stock is cumulative, nonconvertible preferred stock. On June 1, 2018, Parsley sold 36,000 shares of common stock for cash. No cash dividends were declared for 2018. Parsley reported a net loss of $320,000 for the year ended December 31, 2018.
Required:
Calculate Parsley's loss per share (rounded to 2 decimal places) for the year ended December 31, 2018.

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