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.
Instructions
Compute earnings per share data as it should appear on the income statement of SosaCorporation.
$1.99

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October 11, 2011

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