Question
The stockholder's equity section of Navarez Company appears below as of December 31, 2020. 8% preferred stock, $50 par value, authorized 101,800 shares, outstanding 91,800
The stockholder's equity section of Navarez Company appears below as of December 31, 2020.
8% preferred stock, $50 par value, authorized | ||
101,800 shares, outstanding 91,800 shares | 4,590,000 | |
Common stock, $1.00 par, authorized and issued 10,200,000 shares | 10,200,000 | |
Additional paid-in capital | 20,910,000 | |
Retained earnings | 136,680,000 | |
Net Income | 33,660,000 | 170,340,000 |
206,040,000 |
Net income for 2020 reflects a total effective tax rate of 20%. Included in the net income figure is a loss of $18,360,000 (before tax) as a result of a non-recurring major casualty. Preferred stock dividends of $367,200 were declared and paid in 2020. Dividends of $1,020,000 were declared and paid to common stockholders on 2020.
Compute earnings per share data as it should appear on the income statement of Navarez Company. (Round answers to 2 decimal places e.g. 1.48).
Please make sure to clearly explain each step and to show your numbers/your work. This helps me understand the process. I will vote thumbs up if completed correctly and explained well. Thank you
The Net Income/(loss) is: $_____________
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