Question
Sheffield Corporation stockholders' equity section appears below as of December 31, 2017. 8% preferred stock, $50 par value, authorized 100,622 shares, 90,622 shares outstanding $4,531,100
Sheffield Corporation stockholders' equity section appears below as of December 31, 2017.
8% preferred stock, $50 par value, authorized | ||||
100,622 shares, 90,622 shares outstanding | $4,531,100 | |||
Common shares, $1.00 par, authorized and issued 10,566,600 shares | 10,566,600 | |||
Additional payment in principal | 20,928,700 | |||
Retained earnings | $134,911,000 | |||
Net Income | 38,280,000 | 173.191.000 | ||
$209,217,400 |
Net income for 2017 reflects a total effective tax rate of 34%. Included in the net income figure is a loss of $12,928,700 (before taxes) as a result of a non-recurring major casualty event. Preferred stock dividends of $362,488 were declared and paid in 2017. Dividends of $935,800 were declared and paid to common stockholders in 2017.
Calculate the earnings per share data as it should appear on the income statement for Sheffield Corporation.
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