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The stockholders' equity section of Pina Colada Corp, as of December 31, 2017, is as follows: Net income was $14, 280,000 in 2017. This net
The stockholders' equity section of Pina Colada Corp, as of December 31, 2017, is as follows: Net income was $14, 280,000 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 Pina Colada has a warehouse. Earthquakes are rare in that city. Preferred stock dividends of $720,000 were declared and paid in 2017. Pina Colada Corp. declared and paid dividends of $2, 940,000 to common stockholders in 2017. Compute earnings per share data as it should appear on the income statement of Pina Colada Corporation. (Round answers to 2 decimal places, e.g. 1.48.)
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