Reference no: EM132608833
Question - The stockholders' equity section of Tamarisk Corporation appears below as of December 31, 2020.
8% preferred stock, $50 par value, authorized 109,000 shares, outstanding 99,000 shares $4,950,000
Common stock, $1.00 par, authorized and issued 11,000,000 shares 11,000,000
Additional paid-in capital 22,550,000
Retained earnings $147,400,000
Net income 36,300,000
183,700,000 $222,200,000
Net income for 2020 reflects a total effective tax rate of 20%. Included in the net income figure is a loss of $19,800,000 (before tax) as a result of a non-recurring major casualty. Preferred stock dividends of $396,000 were declared and paid in 2020. Dividends of $1,100,000 were declared and paid to common stockholders in 2020.
Compute earnings per share data as it should appear on the income statement of Tamarisk Corporation.
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