Question
The stockholders equity section of Hendly Corporation appears below as of December 31, 2020. 8% preferred stock, $50 par value, authorized 100,000 shares, outstanding 90,000
The stockholders equity section of Hendly Corporation appears below as of December 31, 2020.
8% preferred stock, $50 par value, authorized | ||||
100,000 shares, outstanding 90,000 shares | $4,500,000 | |||
Common stock, $1.00 par, authorized and issued 10,000,000 shares | 10,000,000 | |||
Additional paid-in capital | 20,500,000 | |||
Retained earnings | $134,000,000 | |||
Net income | 33,000,000 | 167,000,000 | ||
$202,000,000 |
Net income for 2020 reflects a total effective tax rate of 20%. Included in the net income figure is a loss of $18,000,000 (before tax) as a result of a non-recurring major casualty. Preferred stock dividends of $360,000 were declared and paid in 2020. Dividends of $1,000,000 were declared and paid to common stockholders in 2020. Compute earnings per share data as it should appear on the income statement of Hendly Corporation. (Round answers to 2 decimal places, e.g. 1.48.)
Earnings Per Share | ||
Net Income / (Loss) | $
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