OBLEM VII Marr Corporation has two products in its ending inventory, each accounted for at the lower of cost or NRV Product #2 $ 80.00 Product #1 $50.00 Historical cost 36.00 20.00 100.00 Estimated cost to dispose Estimated selling price 140.00 Lired: Determinz the Value of each Produ ct in Ending Inventory. PROBLEM I Make sure to show your computations for the following problems. No computation, No credit for correct answers only I! 1) At December 31, 2006 XYZ Corporation had the following stock outstanding 10% cumulative preferred stock, $100 par, 107,500 shares $ 10,750,000 Common stock, $5 par, 5.000.000 shares 25,000,000 During 2007, XYZ Corp. did not issue any additional common stock. The following also occurred during 2007. Income from oontinuing operations before tax $26, 000,000 Discontinued operations (loss before tax) 3, 225.000 . 1, 075, 000 2,200,000 Preferred dividends declared Common dividends declared 30% Effective tax rate Required: Compute eamings per share data as it should appears on the 2007 income statement of XYZ Corp. (Round to two decimal places.)