Eps earnings per share problem earnings per share the

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Reference no: EM13378640

EPS (Earnings Per Share) Problem (Earnings Per Share) The stockholders' equity section of Sosa Corporation appears below as of December 31, 2010. 6% preferred stock, $50 par value, authorized 101,820 shares, outstanding 91,820 shares $4,591,000 Common stock, $1 par, authorized and issued 10.17 million shares 10,170,000 Additional paid-in capital 20,985,700 Retained earnings $134,856,200 Net income 33,298,200 168,154,400 $203,901,100 Net income for 2010 reflects a total effective tax rate of 34%.

Included in the net income figure is a loss of $12,712,000 (before tax) as a result of a major casualty, which should be classified as an extraordinary item. Preferred stock dividends of $275,460 were declared and paid in 2010. Dividends of $1,400,000 were declared and paid to common stockholders in 2010.

Compute earnings per share data as it should appear on the income statement of Sosa Corporation. (Round answers to 2 decimal places, e.g. 5.25. For negative numbers use either a negative sign preceding the number, e.g. -0.45 or parenthesis, e.g. (0.45).)

Reference no: EM13378640

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