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1.) XYZ has the following information available for the year ended 12/31/21. 8% preferred stock. $50 par value, authorized 100,000 shares, outstanding 90,000 shares $
1.) XYZ has the following information available for the year ended 12/31/21. 8% preferred stock. $50 par value, authorized 100,000 shares, outstanding 90,000 shares $ 4,500,000 Common stock $1.00 par, authorized and issued 10 million shares 10,000,000 Additional paid-in capital 20,500,000 Net income 33,000,000 Preferred stock dividends of $360,000 were declared (of which 90,000 will be paid January 2022). Dividends of $1,000,000 were declared (of $250,000 will be paid January 2022) Instructions Compute earnings per share data as it should appear on the income statement of XYZ. 2.) At December 31, 2020. XYZ Corporation had the following stock outstanding. Preferred stock. $100 par, 107,500 shares $10,750,000 Common stock, $5 par. 4.000.000 shares 20,000,000 During 2021, XYZ did not issue any additional common stock. The following also occurred during 2021. Income from continuing operations before taxes $23,650,000 Discontinued operations (loss before taxes) $ 3,225,000 Preferred dividends declared $ 1,075,000 Common dividends declared $ 2,200,000 Effective tax rate 20% Instructions Compute earnings per share data as it should appear in the 2021 income statement of XYZ (Round to two decimal places.)
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