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he following data were taken from the records of Township Corporation at December 31 of the current year:
| Sales revenue | $ 82,000 |
| Gross profit | 29,000 |
| Selling (distribution) expense | 6,400 |
| Administrative expense | ? |
| Pretax income | 13,700 |
| Income tax rate | 35% |
| Shares of stock outstanding | 2,900 |
How do i get Net Income and Earnings Per Share?
\begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ TOWNSHIP CORPORATION } \\ \hline \multicolumn{4}{|c|}{ Income Statement } \\ \hline \multicolumn{3}{|c|}{ For the Year Ended December 31, Current Year } & 2 \\ \hline Sales revenue & & & 82,000 \\ \hline Cost of goods sold & & & 53,000 \\ \hline Gross profit & & & 29,000 \\ \hline \multicolumn{4}{|l|}{ Operating expenses: } \\ \hline Selling expense & 2s & 6,400 & \\ \hline Administrative expens & & 8,900 & \\ \hline Total operating expe & & & 15,300 \\ \hline Pretax income & 2 & & 13,700 \\ \hline \multirow[t]{2}{*}{ Income tax expense } & 2 & & 4,795 \\ \hline & & & 00 \\ \hline \multicolumn{2}{|c|}{ Net income } & & \\ \hline Earnings per share & & & \\ \hline \end{tabular}
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