In: Accounting
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.) |
Earning per share = Net Income / out standing shares
237,000 / 150,000
Earning per share = $1.58