Calculate earnings per share data

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Question - At December 31, 2011, Schroeder Corporation had the following stock outstanding.

8% cumulative preferred stock, $100 par, 107,500 shares

$10,750,000

Common stock, $5 par, 4,000,000 shares

20,000,000

During 2012, Schroeder's did not issue any additional stock. The following also occurred during 2012.

Income from continuing operations before taxes

$21,650,000

Discontinued operations (loss before taxes)

3,225,000

Preferred dividends declared

860,000

Common dividends declared

2,200,000

Effective tax rate

35%

Required - Compute earnings per share data as it should appear in the 2012 income statement of Schroeder Corporation.

Reference no: EM131807061

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