Question - At December 31, 2011, Schroeder Corporation had the following stock outstanding.
8% cumulative preferred stock, $100 par, 108,972 shares $10,897,200
Common stock, $5 par, 4,050,900 shares 20,254,500
During 2012, Schroeder's did not issue any additional stock. The following also occurred during 2012.
Income from continuing operations before taxes $27,241,900
Discontinued operations (loss before taxes) 3,371,500
Preferred dividends declared 871,776
Common dividends declared 2,365,300
Effective tax rate 35%
Compute earnings per share data as it should appear in the 2012 income statement of Schroeder Corporation.