Question
The stockholders equity section of Tkachuk Corporation appears below as of December 31, 2014. 8% preferred stock, $50 par value, authorized 100,866 shares, outstanding 90,866
The stockholders equity section of Tkachuk Corporation appears below as of December 31, 2014.
8% preferred stock, $50 par value, authorized | ||
100,866 shares, outstanding 90,866 shares | $4,543,300 | |
100,866 shares, outstanding 90,866 shares | 10,200,000 | |
Additional paid-in capital | 20,776,000 | |
Retained earnings | $134,180,000 | |
Net income | 38,742,000 | 172,922,000 |
$208,441,300 |
Net income for 2014 reflects a total effective tax rate of 34%. Included in the net income figure is a loss of $12,304,000 (before tax) as a result of a major casualty, which should be classified as an extraordinary item. Preferred stock dividends of $363,464 were declared and paid in 2014. Dividends of $1,330,000 were declared and paid to common stockholders in 2014. Compute earnings per share data as it should appear on the income statement of Tkachuk Corporation. (Round answers to 2 decimal places, e.g. 1.48.)
Answer Format:
Earnings Per Share
Income Before Extraordinary Item | |
Extraordinary Item | |
Net Income / (Loss) |
Thank you!
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