Plano had 50,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 30%.
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Plano Co. 12/31/18 |
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Partial Trial Balance Data |
Debits |
Credits |
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Sales revenue |
805,000 |
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Interest revenue |
67,000 |
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Gain on sale of investments |
117,000 |
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Cost of goods sold |
570,000 |
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Selling expenses |
143,000 |
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Restructuring costs |
40,000 |
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Interest expense |
37,000 |
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General and administrative expenses |
114,000 |
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Required:
Prepare a multiple-step income statement with earnings per share disclosure. (Amounts to be deducted should be indicated with a minus sign. Round EPS answer to 2 decimal places.)
