Compute earnings per share data


At December 31, 2009, Schroeder Corporation had the following stock outstanding.

8% cumulative preferred stock, $100 par, 107,500 shares $10,750,000
Common stock, $5 par, 4,000,000 shares 20,000,000


During 2010, Schroeder's did not issue any additional stock. The following also occurred during 2010.

Income from continuing operations before taxes $21,650,000
Discontinued operations (loss before taxes) 3,225,000
Preferred dividends declared 860,000
Common dividends declared 2,200,000
Effective tax rate 35%


Compute earnings per share data as it should appear in the 2010 income statement of Schroeder 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).)

 

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Accounting Basics: Compute earnings per share data
Reference No:- TGS086541

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