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  3. at december 31, 2016, flounder corporation had the

At December 31, 2016, Flounder Corporation had the following stock outstanding. 10% cumulative preferred stock,...

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Accounting

At December 31, 2016, Flounder Corporation had the following stock outstanding.

10% cumulative preferred stock, $100 par, 107,579 shares $10,757,900

Common stock, $5 par, 4,074,720 shares 20,373,600

During 2017, Flounder did not issue any additional common stock. The following also occurred during 2017.

Income from continuing operations before taxes $21,919,000

Discontinued operations (loss before taxes) $3,300,700

Preferred dividends declared $1,075,790

Common dividends declared $2,181,700

Effective tax rate 35 %

Compute earnings per share data as it should appear in the 2017 income statement of Flounder Corporation.

Discontinued operations

Income from continued operations

Net Income / (loss)

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