Discuss the income statement of bridgeport corporation

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The stockholders' equity section of Bridgeport Corporation appears below as of December 31, 2017.

8% preferred stock, $50 par value, authorized

102,022 shares, outstanding 92,022 shares $4,601,100
Common stock, $1.00 par, authorized and issued 10,599,200 shares 10,599,200
Additional paid-in capital 20,701,900
Retained earnings $134,658,000
Net income 34,320,000 168,978,000
$204,880,200

Net income for 2017 reflects a total effective tax rate of 34%. Included in the net income figure is a loss of $12,789,500 (before tax) as a result of a non-recurring major casualty. Preferred stock dividends of $368,088 were declared and paid in 2017. Dividends of $1,066,100 were declared and paid to common stockholders in 2017.

Compute earnings per share data as it should appear on the income statement of Bridgeport Corporation. (Round answers to 2 decimal places, e.g. 1.48.)

Reference no: EM131779556

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