At December 31, 2014, Schroeder Corporation had the following shares outstanding. 8% cumulative preference shares, 100 par,
Question:
At December 31, 2014, Schroeder Corporation had the following shares outstanding.
8% cumulative preference shares, €100 par, 107,500 shares €10,750,000
Ordinary shares, €5 par, 4,000,000 shares 20,000,000
During 2015, Schroeder did not issue any additional shares. The following also occurred during 2015.
Income before income tax €21,650,000
Discontinued operations (loss before taxes) 3,225,000
Preference dividends declared 860,000
Ordinary dividends declared 2,200,000
Effective tax rate 35%
Instructions
Compute earnings per share data as it should appear in the 2015 income statement of Schroeder Corporation.
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Related Book For
Intermediate Accounting IFRS Edition
ISBN: 9781118443965
2nd Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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