ANSWERS TO QUESTIONS

Net income $33,000,000 Less: Provision for preferred dividends (8% of $4,500,000) 360,000 Income available to common stockholders 32,640,000 Common stock shares (÷10,000,000 Earnings per share $3.26* Income statement presentation Per share of common stock: Income before extraordinary item $4.45a Extraordinary item, net of tax (1.19)b Net ... ................
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