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Business
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10% cumulative preferred shares, 100,000 shares authorized, 73,000 shares outstanding Common shares, 10 million shares authorized and issued Contributed surplus Retained earnings $4,300,000 10,000,000 10,800,000 25,100,000 180,000,000 $306 100.000

10% cumulative preferred shares, 100,000 shares authorized, 73,000 shares outstanding Common shares, 10 million shares authorized and issued Contributed surplus Retained earnings $4,300,000 10,000,000 10,800,000 25,100,000 180,000,000 $306 100.000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The shareholders' equity section of Bramble Corporation as at December 31, 2020, follows: 10% cumulative preferred shares, 100,000 shares authorized, 73,000 shares outstanding Common shares, 10 million shares authorized and issued Contributed surplus Retained earnings Continuing Operations Net income of $22 million for 2020 reflects a total effective tax rate of 23%. Included in the net income figure is a loss of $3 (before tax) relating to the operations of a business segment that is to be discontinued. Discontinued Operations $4,300,000 Calculate earnings per share information as it should appear in the financial statements of Bramble Corporation for the year December 31, 2020. (Round answers to 2 decimal places, e.g. 52.75.) Earnings per share 10,000,000 $ 10,800,000 25,100,000 180,000,000 $205,100,000
Transcribed Image Text:The shareholders' equity section of Bramble Corporation as at December 31, 2020, follows: 10% cumulative preferred shares, 100,000 shares authorized, 73,000 shares outstanding Common shares, 10 million shares authorized and issued Contributed surplus Retained earnings Continuing Operations Net income of $22 million for 2020 reflects a total effective tax rate of 23%. Included in the net income figure is a loss of $3 (before tax) relating to the operations of a business segment that is to be discontinued. Discontinued Operations $4,300,000 Calculate earnings per share information as it should appear in the financial statements of Bramble Corporation for the year December 31, 2020. (Round answers to 2 decimal places, e.g. 52.75.) Earnings per share 10,000,000 $ 10,800,000 25,100,000 180,000,000 $205,100,000
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