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In: Accounting

The following is a partial trial balance for the Green Star Corporation as of December 31,...

The following is a partial trial balance for the Green Star Corporation as of December 31, 2016:

  Account Title Debits Credits
  Sales revenue 1,300,000    
  Interest revenue 33,000    
  Gain on sale of investments 53,000    
  Cost of goods sold 720,000    
  Selling expenses 175,000    
  General and administrative expenses 78,000    
  Interest expense 43,000    
  Income tax expense 133,000    

150,000 shares of common stock were outstanding throughout 2016.

Required:
1.

Prepare a single-step income statement for 2016, including EPS disclosures. (Round EPS answer to 2 decimal places.)
2.

Prepare a multiple-step income statement for 2016, including EPS disclosures. (Amounts to be deducted should be indicated with a minus sign. Round EPS answer to 2 decimal places.)

Solutions

Expert Solution

Earning per share = Net Income / out standing shares

237,000 / 150,000

Earning per share = $1.58

ekkarill92 answered 1 year ago
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