At December 31, 2016, Blossom Corporation had the following stock outstanding.
10% cumulative preferred stock, $100 par, 108,636 shares $10,863,600
Common stock, $5 par, 4,075,400 shares
20,377,000
During 2017, Blossom did not issue any additional common stock. The following also occurred during 2017.
Income from continuing operations before taxes
Discontinued operations (loss before taxes)
Preferred dividends declared
Common dividends declared
Effective tax rate
$22,767,400
$3,461,300
$1,086,360
$2,368,400
35%
Compute earnings per share data as it should appear in the 2017 income statement of Blossom Corporation..
Earnings Per Share
Income from Continuing Operations $
Discontinued Operations
+
Net Income / (Loss)
$