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The following information for Decher Automotives covers the year ended 2012: Administrative expense ????????????????????????????????????. $ 62,000 Dividend income ????????????????????????????????????????????? 10,000...

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Question

The following information for Decher Automotives covers the year ended 2012: Administrative expense ????????????. $ 62,000 Dividend income ??????????????? 10,000 Income taxes ????????????????.. 100,000 Interest expense ???????????????. 20,000 Merchandise inventory, 1/1 ??????????? 650,000 Merchandise inventory, 12/31 ??????????. 440,000 Flood loss (net of tax) ?????????????.. 30,000 Purchases ??????????????????.. 460,000 Sales ????????????????????. 1,000,000 Selling expenses ???????????????? 43,000;Required a. Prepare a multiple-step income statement. b. Assuming that 100,000 shares of common stock are outstanding, calculate the earnings per share before extraordinary items and the net earnings per share. c. Prepare a single-step income statement.

 

Paper#76466 | Written in 18-Jul-2015

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