Reference no: EM131803068
Question - Earnings per Share
At December 31, 2011, Shulo Corporation had the following stock outstanding.
10% cumulative preferred stock, $100 par, 202,000 shares $20,200,000, Common stock, $1 par, 4,000,000 shares 4,000,000,
During 2012, Shulo did not issue any additional common stock. The following also occurred during2012.
Income from continuing operations before taxes $61,500,000,
Discontinued operations (income before taxes) 6,500,000,
Preferred dividends declared 2,020,000,
Common dividends declared 1,800,000,
Effective tax rate 40%.
Instructions: Compute earnings per share data as it should appear in the 2012 income statement of Shulo Corporation.
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