Accounting -EPS (Earnings Per Share) Problem (Earnings Per Share)

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). )

Accounting -EPS (Earnings Per Share) Problem (Earnings Per Share)

Question
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).)