Question
At December 31, 2016, Ivanhoe Corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 107,700 shares $10,770,000 Common stock, $5 par, 4,099,560
At December 31, 2016, Ivanhoe Corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 107,700 shares $10,770,000 Common stock, $5 par, 4,099,560 shares 20,497,800 During 2017, Ivanhoe did not issue any additional common stock. The following also occurred during 2017. Income from continuing operations before taxes $23,036,400 Discontinued operations (loss before taxes) $3,323,900 Preferred dividends declared $1,077,000 Common dividends declared $2,382,400 Effective tax rate 35 % Compute earnings per share data as it should appear in the 2017 income statement of Ivanhoe Corporation. (Round answers to 2 decimal places, e.g. 1.48.) Earnings Per Share $ $ Click if you would like to Show Work for this question: Open Show Work
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started