The stockholders’ equity section of Bloom Corporation appears
below as of December 31, 2017.
8% preferred stock, $50 par value, authorized | ||||
101,754 shares, outstanding 91,754 shares |
$4,587,700 |
|||
Common stock, $1.00 par, authorized and issued 10,827,200 shares |
10,827,200 |
|||
Additional paid-in capital |
20,748,500 |
|||
Retained earnings |
$134,576,000 |
|||
Net income |
33,000,000 |
167,576,000 |
||
$203,739,400 |
Net income for 2017 reflects a total effective tax rate of 34%.
Included in the net income figure is a loss of $12,341,100 (before
tax) as a result of a non-recurring major casualty. Preferred stock
dividends of $367,016 were declared and paid in 2017. Dividends of
$965,400 were declared and paid to common stockholders in
2017.
Compute earnings per share data as it should appear on the income
statement of Bloom Corporation.
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