Question
At December 31, 2020, Shulo Corporation had the following stock outstanding: 10% cumulative preferred stock, $100 par, 202,000 shares $20,200,000 Common stock, $1 par, 4,000,000
At December 31, 2020, Shulo Corporation had the following stock outstanding:
10% cumulative preferred stock, $100 par, 202,000 shares $20,200,000
Common stock, $1 par, 4,000,000 shares 4,000,000
During 2020, Shulo did not issue any additional common stock. The following also occurred during 2020:
Income from continuing operations before taxes $61,500,000
Discontinued operations (income before taxes) 6,500,000
Preferred dividends declared 2,020,000 Common dividends declared 1,800,000
Effective tax rate 17%
Instructions:
Compute earnings per share data as it should appear in the 2020 income statement of Shulo Corporation. (Round to two decimal places.)
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