Question
The stockholders equity section of Blue Corporation appears below as of December 31, 2020. 8% preferred stock, $50 par value, authorized 119,800 shares, outstanding 109,800
The stockholders equity section of Blue Corporation appears below as of December 31, 2020.
8% preferred stock, $50 par value, authorized | ||||
119,800 shares, outstanding 109,800 shares | $5,490,000 | |||
Common stock, $1.00 par, authorized and issued 12,200,000 shares | 12,200,000 | |||
Additional paid-in capital | 25,010,000 | |||
Retained earnings | $163,480,000 | |||
Net income | 40,260,000 | 203,740,000 | ||
$246,440,000 |
Net income for 2020 reflects a total effective tax rate of 20%. Included in the net income figure is a loss of $21,960,000 (before tax) as a result of a non-recurring major casualty. Preferred stock dividends of $439,200 were declared and paid in 2020. Dividends of $1,220,000 were declared and paid to common stockholders in 2020. Compute earnings per share data as it should appear on the income statement of Blue Corporation. (Round answers to 2 decimal places, e.g. 1.48.)
Earnings Per Share | ||
Net Income / (Loss) | $ |
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