At December 31, 2013, Shiga Naoya Corporation had the following stock outstanding. 10% cumulative preferred stock, $100

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At December 31, 2013, Shiga Naoya Corporation had the following stock outstanding.

10% cumulative preferred stock, $100 par, 107,500 shares         $10,750,000
Common stock, $5 par, 4,000,000 shares                                       20,000,000

During 2014, Shiga Naoya did not issue any additional common stock. The following also occurred during 2014.

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%

Instructions
Compute earnings per share data as it should appear in the 2014 income statement of Shiga Naoya Corporation.

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Related Book For  answer-question

Intermediate Accounting

ISBN: 978-1118147290

15th edition

Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield

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