(Earnings per Share) At December 31, 2011, 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 2012, Schroeder did not issue any additional common stock. The following also occurred during 2012.
|
Income from continuing operations before taxes |
$21,650,000 |
|
Discontinued operations (loss before taxes) |
3,225,000 |
|
Preferred dividends declared |
860,000 |
|
Common dividends declared |
2,200,000 |
|
Effective tax rate |
35% |
Instructions
Compute earnings per share data as it should appear in the 2012 income statement of Schroeder Corporation. (Round to two decimal places.)