Corporation as at December 31, 2023, follows:
8% cumulative preferred shares, 100,000 shares
authorized, 80,000 shares outstanding
Common shares, 10 million shares authorized and
issued
Contributed surplus
Retained earnings
$ 4,500,000
10,000,000
10,500,000
25,000,000
177,000,000
$202,000,000
Net income of $24 million for 2023 reflects a total effective tax rate of 25%. Included in the net
income figure is a loss of $15 million (before tax) relating to the operations of a business
segment that is to be discontinued.
Instructions
Calculate earnings per share information as it should appear in the financial statements of
Cadmium for the year ended December 31, 2023.