Exercise 4-10

The stockholders' equity section of Tamarisk Corporation appears below as of December 31, 2020.

8% preferred stock, $50 par value, authorized

109,000 shares, outstanding 99,000 shares

$4,950,000

Common stock, $1.00 par, authorized and issued 11,000,000 shares

11,000,000

Additional paid-in capital

22,550,000

Retained earnings

$147,400,000

Net income

36,300,000

183,700,000

$222,200,000

Net income for 2020 reflects a total effective tax rate of 20%. Included in the net income figure is a loss of $19,800,000 (before tax) as a result of a non-recurring major casualty. Preferred stock dividends of $396,000 were declared and paid in 2020. Dividends of $1,100,000 were declared and paid to common stockholders in 2020.

Compute earnings per share data as it should appear on the income statement of Tamarisk Corporation. (Round answers to 2 decimal places, e.g. 1.48.)

Earnings Per Share

Net Income / (Loss)

$