The stockholders’ equity section of Sosa Corporation appears bel
The stockholders’ equity section of Sosa Corporation appears below as of December 31, 2012.
Net income for 2012 reflects a total effective tax rate of 34%. Included in the net income figure is a loss of $12,000,000 (before tax) as a result of a major casualty, which should be classified as an extraordinary item. Preferred stock dividends of $270,000 were declared and paid in 2012. Dividends of $1,000,000 were declared and paid to common stockholders in 2012.
Compute earnings per share data as it should appear on the income statement of SosaCorporation.