Reference no: EM131678525
Question - The stockholders' equity section of Flounder Corporation appears below as of December 31, 2017.
8% preferred stock, $50 par value, authorized 100,980 shares, outstanding 90,980 shares $4,549,000
Common stock, $1.00 par, authorized and issued 10,415,800 shares 10,415,800
Additional paid-in capital 20,713,100
Retained earnings $134,847,000
Net income 34,980,000 169,827,000
$205,504,900
Net income for 2017 reflects a total effective tax rate of 34%. Included in the net income figure is a loss of $11,350,800 (before tax) as a result of a non-recurring major casualty. Preferred stock dividends of $363,920 were declared and paid in 2017. Dividends of $1,077,900 were declared and paid to common stockholders in 2017.
What is the earnings per share data in net income/loss as it should appear on the income statement of Flounder Corporation?