E4.10 (LO 3) (Earnings per Share) The equity section of Sosa SA appears below as of December 31, 2022. Share capital-preference (6% preference shares, R$50 par value, authorized 100,000 shares, outstanding 90,00o shares) Share capital-ordinary (R$1 par, authorized and issued 10 million shares) Share premium-ordinary Retained earnings R$ 4,500,000 10,000,000 20,500,000 R$134,000,000 Net income 33,000,000 167,000,000 R$202,000,000 Net income for 2022 reflects a total effective tax rate of 20%. Included in the net income figure is a loss of R$12,000,000 (before tax) as a result of discontinued operations. Preference dividends of R$270,000 were declared and paid in 2022. Dividends of R$1,000,000 were declared and paid to ordinary shareholders in 2022. Instructions Compute earnings per share data as it should appear on the income statement of Sosa SA.

E4.10 (LO 3) (Earnings per Share) The equity section of Sosa SA appears below as of December 31, 2022. Share capital-preference (6% preference shares, R$50 par value, authorized 100,000 shares, outstanding 90,00o shares) Share capital-ordinary (R$1 par, authorized and issued 10 million shares) Share premium-ordinary Retained earnings R$ 4,500,000 10,000,000 20,500,000 R$134,000,000 Net income 33,000,000 167,000,000 R$202,000,000 Net income for 2022 reflects a total effective tax rate of 20%. Included in the net income figure is a loss of R$12,000,000 (before tax) as a result of discontinued operations. Preference dividends of R$270,000 were declared and paid in 2022. Dividends of R$1,000,000 were declared and paid to ordinary shareholders in 2022. Instructions Compute earnings per share data as it should appear on the income statement of Sosa SA.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 93.6C

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