Reference no: EM132609363
Question - At December 31, 2019, Novak Corporation had the following stock outstanding.
10% cumulative preferred stock, $100 par, 108,214 shares $10,821,400
Common stock, $5 par, 4,029,700 shares 20,148,500
During 2020, Novak did not issue any additional common stock. The following also occurred during 2020.
Income from continuing operations before taxes $22,695,800
Discontinued operations (loss before taxes) $3,396,000
Preferred dividends declared $1,082,140
Common dividends declared $2,098,800
Effective tax rate 35%
Calculate the earnings per share data as it should appear in the 2020 income statement of Novak Corporation.
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