Question
The stockholders equity section of Tkachuk Corporation appears below as of December 31, 2014. 8% preferred stock, $50 par value, authorized 101,410 shares, outstanding 91,410
The stockholders equity section of Tkachuk Corporation appears below as of December 31, 2014.
8% preferred stock, $50 par value, authorized 101,410 shares, outstanding 91,410 shares $4,570,500 Common stock, $1.00 par, authorized and issued 10.78 million shares 10,780,000 Additional paid-in capital 20,899,000 Retained earnings $134,190,000 Net income 35,640,000 169,830,000 $206,079,500
Net income for 2014 reflects a total effective tax rate of 34%. Included in the net income figure is a loss of $12,093,000 (before tax) as a result of a major casualty, which should be classified as an extraordinary item. Preferred stock dividends of $365,640 were declared and paid in 2014. Dividends of $1,280,000 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.
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