Question
The stockholders equity section of Tkachuk Corporation appears below as of December 31, 2014. 8% preferred stock, $50 par value, authorized 100,754 shares, outstanding 90,754
The stockholders equity section of Tkachuk Corporation appears below as of December 31, 2014. 8% preferred stock, $50 par value, authorized 100,754 shares, outstanding 90,754 shares $4,537,700 Common stock, $1.00 par, authorized and issued 10.40 million shares 10,400,000 Additional paid-in capital 20,957,000 Retained earnings $134,710,000 Net income 35,640,000 170,350,000 $206,244,700 Net income for 2014 reflects a total effective tax rate of 34%. Included in the net income figure is a loss of $12,629,000 (before tax) as a result of a major casualty, which should be classified as an extraordinary item. Preferred stock dividends of $363,016 were declared and paid in 2014. Dividends of $1,030,000 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
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started