Return to the TST data in Short Exercise S17A-13. TST had 8,000 shares of common stock outstanding during 2016. TST declared and paid preferred dividends of $4,000 during 2016.
Show how TST reports EPS data on its 2016 income statement.
In Short Exercise S17A-13
TST Corporation’s accounting records include the following items, listed in no particular order, at December 31, 2016:
The income tax rate for TST Corporation is 50%.