Question
The stockholders equity section of Bridgeport Corporation appears below as of December 31, 2017. 8% preferred stock, $50par value, authorized 102,022shares, outstanding92,022shares $4,601,100 Common stock,
The stockholders equity section of Bridgeport Corporation appears below as of December 31, 2017.
8% preferred stock, $50par value, authorized | ||
102,022shares, outstanding92,022shares | $4,601,100 | |
Common stock, $1.00 par, authorized and issued10,599,200 shares | 10,599,200 | |
Additional paid-in capital | 20,701,900 | |
Retained earnings | $134,658,000 | |
Net income | 34,320,000 | 168,978,000 |
$204,880,200 |
Net income for 2017 reflects a total effective tax rate of34%. Included in the net income figure is a loss of $12,789,500(before tax) as a result of a non-recurring major casualty. Preferred stock dividends of $368,088were declared and paid in 2017. Dividends of $1,066,100were declared and paid to common stockholders in 2017.
Compute earnings per share data as it should appear on the income statement of Bridgeport Corporation. (Round answers to 2 decimal places, e.g. 1.48.)
Earnings Per Share | |
Net Income / (Loss) | $ |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started