At December 31, 2016, Carla Corporation had the following stock
outstanding.
10% cumulative preferred stock,
$100 par, 107,510 shares
$10,751,000
Common stock, $5 par, 4,020,000 shares
20,100,000
During 2017, Carla did not issue any additional common stock. The
following also occurred during 2017.
Income from continuing operations before taxes
$21,650,000
Discontinued operations (loss before taxes)
$3,225,000
Preferred dividends declared
$1,075,100
Common dividends declared
$2,210,000
Effective tax rate
35
%
Compute earnings per share data as it should appear in the 2017
income statement of Carla Corporation
Earnings Per Share