Question
At December 31, 2019, Splish Corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 107,532 shares $10,753,200 Common stock, $5 par, 4,053,980
At December 31, 2019, Splish Corporation had the following stock outstanding.
10% cumulative preferred stock, $100 par, 107,532 shares | $10,753,200 | |
Common stock, $5 par, 4,053,980 shares | 20,269,900 |
During 2020, Splish did not issue any additional common stock. The following also occurred during 2020.
Income from continuing operations before taxes | $24,726,300 | ||
Discontinued operations (loss before taxes) | $3,413,600 | ||
Preferred dividends declared | $1,075,320 | ||
Common dividends declared | $2,228,300 | ||
Effective tax rate | 35 | % |
Compute earnings per share data as it should appear in the 2020 income statement of Splish Corporation. (Round answers to 2 decimal places, e.g. 1.48.)
Earnings Per Share | ||
---|---|---|
select an item Income from Continuing OperationsDiscontinued OperationsNet Income / (Loss) | $enter a dollar amount | |
select an item Discontinued OperationsNet Income / (Loss)Income from Continuing Operations | enter a dollar amount | |
select a closing name Income from Continuing OperationsNet Income / (Loss)Discontinued Operations | $enter a total amount |
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