Question eold Corporation as outstanding at Decembe 31, 2017, 45,0 O shares of S

Question

Question eold Corporation as outstanding at Decembe 31, 2017, 45,0 O shares of S22 paf value, e nulative, 6% preferred stock and 201,500 shares of SB par value com on stock. A. snares ere outstand core tax rate s 31% ero e year. Du ng 2017, R nggo d earned total revenues of $1 9 70,000 and incurred total expenses (except income taxes) of S1,1 30,000 Ringgold's Ca culate Ringgold's 2017 met income Net tncome Caculate Ringgold's 2017 preferred dividends. (Round answer to O decimal places, e.g. 5,275.) Preferred dividends Compute Ringgold's 2017 earnings per share. (Round answer to 2 decimal places, a.. 2.25.) Earnings per share

Explanation / Answer

Dear Student Thank you for using Chegg Please find below the answer Statementshowing Computations Paticulars Amount Total Revenues                1,970,000.00 Total Expenses              (1,130,000.00) Income before tax                    840,000.00 Tax at 31%                 (260,400.00) Income after tax                    579,600.00 Preference Dividend = 45000*22*6%                    (59,400.00) Earning available for equity shareholders                    520,200.00 No of equity shares                    201,500.00 Earning per share                                 2.58

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