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Question - Earnings per Share
At December 31, 2009, Schroeder Corporation had the following stock outstanding.
8% cumulative preferred stock, $100 par, 108,924 shares
$10,892,400
Common stock, $5 par, 4,039,040 shares
20,195,200
During 2010, Schroeder's did not issue any additional stock. The following also occurred during 2010.
Income from continuing operations before taxes
$28,753,800
Discontinued operations (loss before taxes)
3,247,400
Preferred dividends declared
871,392
Common dividends declared
2,300,100
Effective tax rate
35%
Compute earnings per share data as it should appear in the 2010 income statement of Schroeder Corporation.
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