Reference no: EM132051629
Question - At December 31, 2013, Shiga Naoya Corporation had the following stock outstanding.
10% cumulative preferred stock, $100 par, 109,100 shares $10,910,000
Common stock, $5 par, 4,078,800 shares 20,394,000
During 2014, Shiga Naoya did not issue any additional common stock. The following also occurred during 2014.
Income from continuing operations before taxes $24,645,000
Discontinued operations (loss before taxes) $3,254,000
Preferred dividends declared $1,091,000
Common dividends declared $2,255,000
Effective tax rate 35 %
Compute earnings per share data as it should appear in the 2014 income statement of Shiga Naoya Corporation.