Which of the following statements regarding earnings per share (EPS) is incorrect?
A) EPS for income from continuing operations must be reported on the face of the income statement.
B) EPS is the most widely used of all business statistics.
C) When computing EPS, preferred dividends are subtracted from net income because the preferred stockholders have the first claim to dividends.
D) EPS reports the amount of income (loss) for each share of the company's issued common stock.
D) EPS reports the amount of income (loss) for each share of the company's issued common stock.
Explanation: EPS reports the amount of income (loss) for each share of the company's outstanding common stock.
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