Exercise 4 13 At December 31, 2019, Wildhorse Corporation had the following stock outstanding 10 cumulative preferred stock, $100 par, 107,579 shares $10,757,900 Common stock, $5 par, 4,074,720 shares 20,373,600 During 2020, Wildhorse did not issue any additional common stock The following also occurred during 2020 Income from continuing operations before taxes $21,919,000 Discontinued operations (loss before taxes) $3,300,700 Preferred dividends declared $1,075,790 Common dividends declared $2,181,700 Effective tax rate 35 Compute earnings per share data as it should appear in the 2020 income statement of Wildhorse Corporation (Round answers to 2 decimal places, e g 1 48 ) Earnings Per Share select an item Income from Continuing OperationsNet Income (Loss)Discontinued Operations $enter a dollar amount select an item Income from Continuing OperationsDiscontinued OperationsNet Income (Loss) enter a dollar amount select a closing name Net Income (Loss)Income from Continuing OperationsDiscontinued Operations $enter a total amount

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 19, 2024

Exercise 4-13 At December 31, 2019, Wildhorse Corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 107,579 shares $10,757,900 Common stock, $5

Exercise 4-13

At December 31, 2019, Wildhorse Corporation had the following stock outstanding.

10% cumulative preferred stock, $100 par, 107,579 shares		$10,757,900
Common stock, $5 par, 4,074,720 shares		20,373,600

During 2020, Wildhorse did not issue any additional common stock. The following also occurred during 2020.

Income from continuing operations before taxes	$21,919,000
Discontinued operations (loss before taxes)	$3,300,700
Preferred dividends declared	$1,075,790
Common dividends declared	$2,181,700
Effective tax rate	35	%

Compute earnings per share data as it should appear in the 2020 income statement of Wildhorse Corporation. (Round answers to 2 decimal places, e.g. 1.48.)

Earnings Per Share
select an item Income from Continuing OperationsNet Income / (Loss)Discontinued Operations		$enter a dollar amount
select an item Income from Continuing OperationsDiscontinued OperationsNet Income / (Loss)		enter a dollar amount
select a closing name Net Income / (Loss)Income from Continuing OperationsDiscontinued Operations		$enter a total amount