Question
The stockholders equity section of Windsor Corporation appears below as of December 31, 2020. 8% preferred stock, $50 par value, authorized 94,600 shares, outstanding 84,600
The stockholders equity section of Windsor Corporation appears below as of December 31, 2020.
8% preferred stock, $50 par value, authorized | ||||
94,600 shares, outstanding 84,600 shares | $4,230,000 | |||
Common stock, $1.00 par, authorized and issued 9,400,000 shares | 9,400,000 | |||
Additional paid-in capital | 19,270,000 | |||
Retained earnings | $125,960,000 | |||
Net income | 31,020,000 | 156,980,000 | ||
$189,880,000 |
Net income for 2020 reflects a total effective tax rate of 20%. Included in the net income figure is a loss of $16,920,000 (before tax) as a result of a non-recurring major casualty. Preferred stock dividends of $338,400 were declared and paid in 2020. Dividends of $940,000 were declared and paid to common stockholders in 2020. Compute earnings per share data as it should appear on the income statement of Windsor Corporation.
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