Question
Exercise 4-10 The stockholders equity section of Shamrock Corporation appears below as of December 31, 2017. 8% preferred stock, $50 par value, authorized 100,386 shares,
Exercise 4-10 The stockholders equity section of Shamrock Corporation appears below as of December 31, 2017. 8% preferred stock, $50 par value, authorized 100,386 shares, outstanding 90,386 shares $4,519,300 Common stock, $1.00 par, authorized and issued 10,431,400 shares 10,431,400 Additional paid-in capital 20,951,500 Retained earnings $134,640,000 Net income 38,940,000 173,580,000 $209,482,200 Net income for 2017 reflects a total effective tax rate of 34%. Included in the net income figure is a loss of $13,167,400 (before tax) as a result of a non-recurring major casualty. Preferred stock dividends of $361,544 were declared and paid in 2017. Dividends of $1,039,400 were declared and paid to common stockholders in 2017. Compute earnings per share data as it should appear on the income statement of Shamrock Corporation. (Round answers to 2 decimal places, e.g. 1.48.) Earnings Per Share Net Income / (Loss) $
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