Please help me to better understand this problem. Please put in excel with explanations so I can understand it better.
At December 31, 2009, Schroeder Corporation had the following stock outstanding.
8% cumulative preferred stock, $100 par, 107,500 shares $10,750,000
Common stock, $5 par, 4,000,000 shares 20,000,000
During 2010, Schroeder did not issue any additional common stock. The following also occurred during 2010.
Income from continuing operations before taxes $21,650,000
Discontinued operations (loss before taxes) 3,225,000
Preferred dividends declared 860,000
Common dividends declared 2,200,000
Effective tax rate 35%
The solution explains how to calculate earnings per share