At December 31, 2014, Tres Hombres Corporation had the following shares outstanding:
10% cumulative preferred shares, 107,500 shares outstanding.$10,750,000
Common shares, 4,000,000 shares outstanding...... 20,000,000
During 2014, the corporation's only share transaction was the issuance of 400,000 common shares on April 1.
During 2014, the following also occurred:
Income from continuing operations before tax .....$23,650,000
Discontinued operations (loss before tax) ....... 3,225,000
Preferred dividends declared.............. 1,075,000
Common dividends declared.............. 2,200,000
Effective tax rate................. 30%
Instructions
Calculate earnings per share information as it should appear in the financial statements of Tres Hombres Corporation for the year ended December 31,2014.