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M4-8 (Algo) Reporting an Income Statement with Earnings per Share LO4-2. Catena's Marketing Company has...

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M4-8 (Algo) Reporting an Income Statement with Earnings per Share LO4-2. Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $590 were declared at the end of the year, and 540 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,160 in cash (for a total at the end of the year of 840 shares). These effects are included below: 160 Catena's Marketing Company Adjusted Trial Balance End of the Current Year Debit credit Cash $ 1,660 Accounts receivable 2,240 Interest receivable Prepaid insurance 1,620 Long-term notes receivable 3,000 Equipment 15,100 Accumulated depreciation $ 2,980 Accounts payable 2,320 Dividends payable 590 Accrued expenses payable 3,720 Income taxes payable 2,540 Unearned rent revenue 390 Common Stock (840 shares) 84 Additional paid-in capital 3,536 Retained earnings 2,100 Sales revenue 37,650 Interest revenue 110 Rent revenue 600 Wages expense 18,200 Depreciation expense 1,750 Utilities expense 340 Insurance expense 710 Rent expense 9,100 Income tax expense 2,740 Total $ 56,620 $ 56,620 Prepare a multistep income statement for the current year. (Round your earnings per share to 2 decimal places. )

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