Question
At December 31, 2019, Sheffield Corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 109,304 shares $10,930,400 Common stock, $5 par, 4,070,540
At December 31, 2019, Sheffield Corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 109,304 shares $10,930,400 Common stock, $5 par, 4,070,540 shares 20,352,700 During 2020, Sheffield did not issue any additional common stock. The following also occurred during 2020. Income from continuing operations before taxes $23,082,300 Discontinued operations (loss before taxes) $3,316,900 Preferred dividends declared $1,093,040 Common dividends declared $2,221,700 Effective tax rate 35 % Compute earnings per share data as it should appear in the 2020 income statement of Sheffield Corporation. (Round answers to 2 decimal places, e.g. 1.48.)
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