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The stockholders' equity section of Flounder Corp, as of December 31, 2017 is as follows: 10% preferred stock, $ 100 par value, authorized 100,000 shares,
The stockholders' equity section of Flounder Corp, as of December 31, 2017 is as follows: 10% preferred stock, $ 100 par value, authorized 100,000 shares, outstanding 72,000 shares $ 7,200,000 Common stock, $ 1 par, authorized and issued 7,300,000 shares 7,300,000 Additional paid-in capital 78,340,000 Retained earnings 472,000,000 $564,840,000 Net income was $ 14,200,000 in 2017. This net income figure reflects a total effective tax rate of 35%. Included in the net income figure is a $5,000,000 (before tax) loss from an earthquake centered in a city where Flounder has a warehouse. Earthquakes are rare in that city. Preferred stock dividends of $ 720,000 were declared and paid in 2017. Flounder Corp. declared and paid dividends of $ 3,540,000 to common stockholders in 2017. Compute earnings per share data as it should appear on the income statement of Flounder Corporation. (Round answers to 2 decimal places, e.g. 1.48.) Earnings Per Share Net Income /(Loss) $
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