(Earnings Per Share) The stockholders’ equity section of Tkachuk Corporation appears below as of December 31, 2004.

Net income for 2004 reflects a total effective tax rate of 34%. Included in the net income figure is a loss of $18,000,000 (before tax) as a result of a major casualty.
Instructions Compute earnings per share data as it should appear on the income statement of Tkachuk Corporation.

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8% cumulative preferred stock, $50 par value, authorized 100,000 shares, outstanding 90,000 shares Common stock, $1.00 par, authorized and issued 10 million shares Additional paid-in capital Retained earnings Net income $134,000,000 33,000,000 $ 4,500,000 10,000,000 20,500,000 167,000,000 $202,000,000