PROBLEM 4 Earnings per Share (10 points) Eastham Corporation had the following types of...
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Accounting
PROBLEM 4 Earnings per Share (10 points)
Eastham Corporation had the following types of stock issued for all of 2020.
| 6% preferred stock, $50 par value, | ||||
| 150,000 shares issued | $7,500,000 | |||
| Common stock, $1.00 par, 12,000,000 shares issued | 12,000,000 |
Net income for 2021 was $38,850,000. The company declared and paid the preferred dividends. The company also declared and paid common stock dividends of $0.20 per share. Required
Compute earnings per share data as it should appear on the income statement of Eastham Corporation for the year ending December 31, 2020.
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