Assuming that the inflation rate from 2018 through 2020 is 6% per year: a) What would be the real value of a $60,000 income in each of the three years? (Show all work) (4 points)
b) What does the real income computed for 2019 mean? (2 points)

At december 31, 2016, pina corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 107,810 shares $10,781,000 common stock, $5 par, 4,026,000 shares 20,130,000 during 2017, pina did not issue any additional common stock. the following also occurred during 2017. income from continuing operations before taxes $21,950,000 discontinued operations (loss before taxes) $3,505,000 preferred dividends declared $1,078,100 common dividends declared $2,300,000 effective tax rate 35 % compute earnings per share data as it should appear in the 2017 income statement of pina corporation