Reference no: EM132657311
At December 31, 2020, Novak Corporation had the following shares outstanding:
6% cumulative preferred shares, 100,600 shares outstanding. $10,060,000
Common shares, 4,060,000 shares outstanding. 20,300,000
During 2020, the corporation's only share transaction was the issuance of 380,000 common shares on April 1. During 2020, the following also occurred:
Income from continuing operations before tax. $25,070,000
Discontinued operations (loss before tax) 3,058,000
Preferred dividends declared 603,600
Common dividends declared 2,220,000
Effective tax rate 35%
Problem 1: Calculate earnings per share information as it should appear in the financial statements of Novak Corporation for the year ended December 31, 2020. (Round per share answer to 2 decimal places, e.g. 52.75.)
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