Question
Exercise 4-10 The stockholders equity section of Martinez Corporation appears below as of December 31, 2017. 8% preferred stock, $50 par value, authorized 101,754 shares,
Exercise 4-10 The stockholders equity section of Martinez Corporation appears below as of December 31, 2017. 8% preferred stock, $50 par value, authorized 101,754 shares, outstanding 91,754 shares $4,587,700 Common stock, $1.00 par, authorized and issued 10,827,200 shares 10,827,200 Additional paid-in capital 20,748,500 Retained earnings $134,576,000 Net income 33,000,000 167,576,000 $203,739,400 Net income for 2017 reflects a total effective tax rate of 34%. Included in the net income figure is a loss of $12,341,100 (before tax) as a result of a non-recurring major casualty. Preferred stock dividends of $367,016 were declared and paid in 2017. Dividends of $965,400 were declared and paid to common stockholders in 2017. Compute earnings per share data as it should appear on the income statement of Martinez Corporation. (Round answers to 2 decimal places, e.g. 1.48.)
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