Question
The stockholders equity section of Vaughn Corporation appears below as of December 31, 2017. 8% preferred stock, $50 par value, authorized 101,370 shares, outstanding 91,370
The stockholders equity section of Vaughn Corporation appears below as of December 31, 2017.
8% preferred stock, $50 par value, authorized | ||||
101,370 shares, outstanding 91,370 shares | $4,568,500 | |||
Common stock, $1.00 par, authorized and issued 10,844,900 shares | 10,844,900 | |||
Additional paid-in capital | 20,539,000 | |||
Retained earnings | $134,841,000 | |||
Net income | 33,000,000 | 167,841,000 | ||
$203,793,400 |
Net income for 2017 reflects a total effective tax rate of 34%. Included in the net income figure is a loss of $10,820,300 (before tax) as a result of a non-recurring major casualty. Preferred stock dividends of $365,480 were declared and paid in 2017. Dividends of $1,053,500 were declared and paid to common stockholders in 2017. Compute earnings per share data as it should appear on the income statement of Vaughn Corporation. (Round answers to 2 decimal places, e.g. 1.48.)
Earning per share:
Net income/loss = $
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