Question
The stockholders' equity section of Tkachuk Corporation appears below as of December 31, 2014: 8% preferred stock, $50 par value, authorized 100,290 shares, outstanding 90,290
The stockholders' equity section of Tkachuk Corporation appears below as of December 31, 2014:
8% preferred stock, $50 par value, authorized
100,290 shares, outstanding 90,290 shares $4,514,500
Common stock, $1.00 par, authorized and issued 10.77 million shares 10,770,000
Additional paid-in capital 20,824,000
Retained earnings $134,230,000
Net Income 36,102,000 170,332,000
$206,440,500
Net income for 2014 reflects a total effective tax rate of 34%. Included in the net income figure is a loss of $12,388,000 (before tax) as a result of a major casualty, which should be classified as an extraordinary item. Preferred stock dividends of $361,160 were declared and paid in 2014. Dividends of $1,340,000 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.
Income Before Extraordinary Item - ?
Extraordinary Item - $0.76
Net Income - ?
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