Question
At December 31, 2016, Blue Corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 108,110 shares $10,811,000 Common stock, $5 par, 4,023,000
At December 31, 2016, Blue Corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 108,110 shares $10,811,000 Common stock, $5 par, 4,023,000 shares 20,115,000 During 2017, Blue did not issue any additional common stock. The following also occurred during 2017. Income from continuing operations before taxes $22,250,000 Discontinued operations (loss before taxes) $3,255,000 Preferred dividends declared $1,081,100 Common dividends declared $2,240,000 Effective tax rate 35 % Compute earnings per share data as it should appear in the 2017 income statement of Blue Corporation.
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