Acc421 Intermediate Accounting: E4-12 At December 31, 2009, Schroeder Corporation

Acc421 Intermediate Accounting

E4-12 (Earnings per Share)
At December 31, 2009, Schroeder Corporation had the following stock outstanding.
8% cumulative preferred stock, $100 par, 107,500 shares 10,750,000
Common stock, $5 par, 4,000,000 shares 20,000,000

During 2010, Schroeder's did not issue any additional stock. The following also occurred during 2010.
Income from continuing operations before taxes 23,650,000
Discontinued operations (loss before taxes) 3,225,000
Preferred dividends declared 1,075,000
Common dividends declared 2,200,000
Effective tax rate 35%

Compute earnings per share data as it should appear in the 2010 income statement of Schroeder Corporation. (Round answers to 2 decimal places, e.g. 5.25. For negative numbers use either a negative sign preceding the number, e.g. -0.45 or parenthesis, e.g. (0.45).)
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