Question
At December 31, 2016, Pina Corporation had the following stock outstanding. 10% cumulative preferred stock, $100par,107,860shares $10,786,000Common stock, $5par,4,027,000shares 20,135,000 During 2017, Pina did not
At December 31, 2016, Pina Corporation had the following stock outstanding.
10% cumulative preferred stock, $100par,107,860shares
$10,786,000Common stock, $5par,4,027,000shares
20,135,000
During 2017, Pina did not issue any additional common stock. The following also occurred during 2017.
Income from continuing operations before taxes
$22,000,000
Discontinued operations (loss before taxes)
$3,425,000
Preferred dividends declared
$1,078,600
Common dividends declared
$2,470,000
Effective tax rate
35%
Compute earnings per share data as it should appear in the 2017 income statement of Pina Corporation.
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