Income statement with EPS
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Prepare income statement including the calculation for earnings per share for the following:
sales-800,000
shares outstanding-100,000
costs of goods sold-300,000
Interest expense-30,000
Selling and administrative expense-40,000
Depreciation expense-30,000
preferred stock dividend-80,000
taxes-40%
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Solution Summary
The solution explains the preparation of an income statement with EPS.
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The income statement would look like
Sales 800,000
Cost of Goods Sold 300,000
Gross Profit ...
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