Question
The stockholders' equity section ofMarigoldCorp, as of December 31, 2017 is as follows: 10% preferred stock, $100par value, authorized100,000shares, outstanding76,000shares$7,600,000 Common stock, $1par, authorized and
The stockholders' equity section ofMarigoldCorp, as of December 31, 2017 is as follows:
10% preferred stock, $100par value, authorized100,000shares, outstanding76,000shares$7,600,000
Common stock, $1par, authorized and issued7,700,000shares7,700,000
Additional paid-in capital78,240,000
Retained earnings469,800,000$563,340,000
Net income was $14,280,000in 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 whereMarigoldhas a warehouse. Earthquakes are rare in that city. Preferred stock dividends of $760,000were declared and paid in 2017.MarigoldCorp. declared and paid dividends of $2,610,000to common stockholders in 2017.
Compute earnings per share data as it should appear on the income statement ofMarigoldCorporation.(Round answers to 2 decimal places, e.g. 1.48.)
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