During all of the year just ended, littlefield, inc., had outstanding 100,000 shares of common stock and 5,000 shares of noncumulative, $7 preferred stock. each share of the latter is convertible into three shares of common. for the year, littlefield had $230,000 income from continuing operations and a $575,000 loss on discontinued operations; no dividends were paid or declared. littlefield should report diluted earnings (loss) per share (deps) for income from continuing operations and for net income (loss), respectively, of:

The diluted earnings per share for income from continuing operations is $1.92 and for net income is -$2.875.

Explanation:

Net income = $230,000 - $575,000

                   = -$345,000 (loss)

total outstanding shares = 100,000 + 5,000 + 15000

                                         = 120,000

diluted earnings (loss) per share for net income (loss)

= -$345,000/120,000

                                                                                = -$2.875  

diluted earnings (loss) per share for income from countinuing operations = $230,000/120,000

                  = $1.92

Therefore, the diluted earnings per share for income from continuing operations is $1.92 and for net income is -$2.875.

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.