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par value uthorized hares, outstanding 82,800 shares stock, $1.00 par, authorized and issued 10,000,000 shares al paid-in capital earnings (includes 2025 net income of $30,360,000) Ekholders' equity $4,140,000 10,000,000 18,860,000 153,640,000 186,640,000

par value uthorized hares, outstanding 82,800 shares stock, $1.00 par, authorized and issued 10,000,000 shares al paid-in capital earnings (includes 2025 net income of $30,360,000) Ekholders' equity $4,140,000 10,000,000 18,860,000 153,640,000 186,640,000

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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gohil sanjay

3 The stockholders' equity section of Sheridan Corporation appears below as of December 31, 2025. 8% preferred stock, $50 par value, authorized 92,800 shares, outstanding 82,800 shares Common stock, $1.00 par, authorized and issued 10,000,000 shares Additional paid-in capital Retained earnings (includes 2025 net income of $30,360,000) Total stockholders' equity $4,140,000 10,000,000 18,860,000 153,640,000 186,640,000 Net income for 2025 reflects a total effective tax rate of 20 %. Included in the net income figure is a loss of $16,560,000 (before a result of a non-recurring major casualty. Preferred stock dividends of $331,200 were declared and paid in 2025. Dividends of $920,000 were declared and paid to common stockholders in 2025. Compute earnings per share data as it should appear on the income statement of Sheridan Corporation. (Round answers to 2 de places, e.g. 1.48.) Earnings per share
Transcribed Image Text:3 The stockholders' equity section of Sheridan Corporation appears below as of December 31, 2025. 8% preferred stock, $50 par value, authorized 92,800 shares, outstanding 82,800 shares Common stock, $1.00 par, authorized and issued 10,000,000 shares Additional paid-in capital Retained earnings (includes 2025 net income of $30,360,000) Total stockholders' equity $4,140,000 10,000,000 18,860,000 153,640,000 186,640,000 Net income for 2025 reflects a total effective tax rate of 20 %. Included in the net income figure is a loss of $16,560,000 (before a result of a non-recurring major casualty. Preferred stock dividends of $331,200 were declared and paid in 2025. Dividends of $920,000 were declared and paid to common stockholders in 2025. Compute earnings per share data as it should appear on the income statement of Sheridan Corporation. (Round answers to 2 de places, e.g. 1.48.) Earnings per share
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