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-   -   The stockholders' equity section of Sosa Corp. appears below as Cec.31, 2012. (https://www.askmehelpdesk.com/showthread.php?t=731978)

  • Feb 2, 2013, 10:10 PM
    drgee
    The stockholders' equity section of Sosa Corp. appears below as Cec.31, 2012.
    6% perferred stock, $50 par value, authorized
    100,340 shares, outstanding 90,340 shares $4,517,000
    Common stock, $1 par, authorized and issued 10.14 million shares 10,140,000
    Additional paid-in capital 20,650,500
    Retained earnings $134,682,800
    Net income 33,660,300 168,343,100 $203,650,600

    Net income for 2012 reflects a total effective rate of 34%. Included in the net income figure is a loss of $12,221,400 (before tax) as a result of a major casualty, which should be classified as an extraordinary item. Preferred stock dividenes of $271,020 wer declared and pain in 2012. Dividends of $1,400,000 were declared and paid to common stockholders in 2012.

    Compute earnings per share data as it should appear on the income statement of Sosa Corp.

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