The equity section of Kingbird SA appears below as December 31,2022. Share Capital - preference (6%
Question:
The equity section of Kingbird SA appears below as December 31,2022.
Share Capital - preference (6% preference shares, $50 par value, $5,400,000
authorized 118,000 shares, outstanding 108,000 shares)
Share Capital - ordinary ($1 par, authorized and issued 10,000,000 shares) $10,000,000
Share premium - ordinay $24,600,000
Retained earnings $160,800,000
Net income $39,600,000 $200,400,000
$240,400,000
Net income for 2022 reflects a total effective tax rate of 20%. Included in the net income figure is a loss of $14,400,000 (before tax) as a result of discontinued operations. Preference dividends of $324,000 were declared and paid in 2022. Dividends of $1,200,000 were declared and paid to ordinary shareholders in 2022.
Compute earnings per share data as it should appear on the income statement of Kingbird SA.
Earnings per share:
Income from continuing operations = ?
Discontinued operations, net of tax = ?
Net income = ?
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield