View Policies Current Attempt in Progress At December 31, 2019, Wildhorse 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 2020, Wildhorse did not issue any additional common stock. The following also occurred during 2020. 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 2020 income statement of Wildhorse Corporation. (Round answers to 2 decimal places, e. g. 1.48.)
Earnings Per Share
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                         Wildhorse Corporation

                       Income Statement (Partial)

                 For the year ended Dec 31, 2020

Particulars                                                      Amount

Net Income

Income from continuing operation                       $21,919,000

before income tax

Income Tax (35%)                                                  $7,671,650

Income from continuing operation                       $14,247,350

Discontinued operations

Losses before taxes            $3,300,700  

Less: Income tax (35%)        $1,155,245                $2,145,455

Net Income                                                             $12,101,895

Preferred dividend declared                   $1,075,790

Weighted average common share outstanding  4,074,720 shares

Earning per share

Income from continuing operation               $3.23

($14,247,350 - $1,075,790)/4074720  

Less: Discontinued operation, net of tax   -$0.53

($2,145,455/4074720)

Net Income                                                    $2.71

($12,101,895 - $1,075,790) / 4074720  

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

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