(Answered) Question - earnings per shareat december 31 2009 schroeder

Accounting

Question - Earnings per Share

At December 31, 2009, Schroeder Corporation had the following stock outstanding.

8% cumulative preferred stock, $100 par, 108,924 shares	$10,892,400
Common stock, $5 par, 4,039,040 shares	20,195,200

During 2010, Schroeder's did not issue any additional stock. The following also occurred during 2010.

Income from continuing operations before taxes	$28,753,800
Discontinued operations (loss before taxes)	3,247,400
Preferred dividends declared	871,392
Common dividends declared	2,300,100
Effective tax rate	35%

Compute earnings per share data as it should appear in the 2010 income statement of Schroeder Corporation.

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