The equity section of Sosa SA appears below as of December 31, 2019. Net income for 2019
Question:
Net income for 2019 reflects a total effective tax rate of 20%. Included in the net income figure is a loss of R$12,000,000 (before tax) as a result of discontinued operations. Preference dividends of R$270,000 were declared and paid in 2019. Dividends of R$1,000,000 were declared and paid to ordinary shareholders in 2019.
Instructions
Compute earnings per share data as it should appear on the income statement of Sosa SA.
Transcribed Image Text:
Share capital-preference (6% preference shares, R$50 par value, authorized 100,000 shares, outstanding 90,000 shares) Share capital-ordinary (RS1 par, authorized and issued 10 million shares) Share premium-ordinary Retained earnings Net income R$ 4,500,000 10,000,000 20,500,000 R$134,000,000 33,000,000 167,000,000 R$202,000,000
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Related Book For
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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