Earnings Per Share (EPS)

E4-13B (Earnings per Share) At December 31, 2013, Shulo Corporation had the following stock outstanding.

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E4-13B (Earnings per Share) At December 31, 2013, Shulo Corporation had the following stock outstanding.

 

10% cumulative preferred stock, $100 par, 202,000 shares                 $20,200,000

Common stock, $1 par, 4,000,000 shares                                                    4,000,000

During 2014, Shulo did not issue any additional common stock. The following also occurred during 2014.

Income from continuing operations before taxes                                    $61,500,000

Discontinued operations (income before taxes)                                          6,500,000

Preferred dividends declared                                                                           2,020,000

Common dividends declared                                                                           1,800,000

Effective tax rate                                                                                                            40%

Instructions

Compute earnings per share data as it should appear in the 2014 income statement of Shulo Corporation.

(Round to two decimal places.)