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The stockholders' equity section of Metlock Corporation appears below as od 31, 2020. 8% preferred stock, $50 par value, authorized 98,200 shares, outstanding 88,200 shares
The stockholders' equity section of Metlock Corporation appears below as od 31, 2020.
8% preferred stock, $50 par value, authorized
98,200 shares, outstanding 88,200 shares $4,410,000
Common stock, $1.00 par, authorized and issued 9,800,000 shares
additional paid-in capital 20,090,000
retained earnings $131,320,000
net income 32,340,000.
163,660,000
197,960,000
net income for 2020 reflects a total effective tax rate of 20%. Included in the net income figure is a loss of $17,640,000 (before tax) as a result of a non-recurring major casualty. Preferred stock dividends of $352,800 were decleared and paid in 2020. Dividends of $980,000 were declared and paid to common stockholders in 2020.
Compute earnings per share data as it should appear on the income statement of Metlock Corporation.
net income/ (loss). $
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