Reference no: EM131824791
Question - The stockholders' equity section of Sosa Corporation appears below as of December 31, 2012.
6% preferred stock, $50 par value, authorized
100,560 shares, outstanding 90,560 shares $4,528,000
Common stock, $1 par, authorized and issued 10,850,000 million shares 10,850,000
Additional paid-in capital 20,513,000
Retained earnings $134,160,000
Net income 38,544,000
172,704,000 $208,595,000
Net income for 2012 reflects a total effective tax rate of 34%. Included in the net income figure is a loss of $12,852,000 (before tax) as a result of a major casualty, which should be classified as an extraordinary item. Preferred stock dividends of $271,680 were declared and paid in 2012. Dividends of $1,420,000 were declared and paid to common stockholders in 2012.
Compute earnings per share data as it should appear on the income statement of Sosa Corporation.