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 9 months ago

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