Question
The stockholders' equity section ofBrambleCorp, as of December 31, 2017 is as follows: 6% preferred stock, $100par value, authorized100,000shares, outstanding78,000shares$7,800,000 Common stock, $1par, authorized and
The stockholders' equity section ofBrambleCorp, as of December 31, 2017 is as follows:
6% preferred stock, $100par value, authorized100,000shares, outstanding78,000shares$7,800,000
Common stock, $1par, authorized and issued7,900,000shares7,900,000
Additional paid-in capital78,400,000
Retained earnings437,700,000$531,800,000
Net income was $14,340,000in 2017. This net income figure reflects a total effective tax rate of35%. Included in the net income figure is a $5,000,000 (before tax) loss from an earthquake centered in a city whereBramblehas a warehouse. Earthquakes are rare in that city. Preferred stock dividends of $468,000were declared and paid in 2017.BrambleCorp. declared and paid dividends of $2,680,000to common stockholders in 2017. Compute earnings per share data as it should appear on the income statement ofBrambleCorporation
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