At December 31, 2011, ABC Corporation had the following stock outstanding. 8% cumulative preferred stock, $100 par
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At December 31, 2011, ABC Corporation had the following stock outstanding.
8% cumulative preferred stock, $100 par .. 107,500 shares
Common stock, $5 par, 4,000,000 shares .... 20,000,000
During 2012, Schroeder's did not issue any additional stock. The following also occurred during 2012.
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 2012 income statement of ABC Corporation.
CorporationA Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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