The shareholders’ equity section of Cadmium Corporation as at December 31, 2023, follows:

Net income of $24 million for 2023 reflects a total effective tax rate of 25%. Included in the net income figure is a loss of $15 million (before tax) relating to the operations of a business segment that is to be discontinued.

InstructionsCalculate earnings per share information as it should appear in the financial statements of Cadmium for the year ended December 31, 2023.

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8% cumulative preferred shares, 100,000 shares authorized, 80,000 shares outstanding Common shares, 10 million shares authorized and issued Contributed surplus Retained earnings $ 4,500,000 10,000,000 10,500,000 25,000,000 177,000,000 $202,000,000