Plano Co. 12/31/2018 Partial Trial Balance Data Debits Credits ...
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Accounting
| Plano Co. 12/31/2018 | ||||
| Partial Trial Balance Data | Debits | Credits | ||
| Sales revenue | 602,000 | |||
| Interest revenue | 78,000 | |||
| Gain on sale of investments | 128,000 | |||
| Cost of goods sold | 445,000 | |||
| Selling expenses | 132,000 | |||
| Interest expense | 22,000 | |||
| General and administrative expenses | 84,000 | |||
Plano had 50,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 30%. Required:
Prepare a multiple-step income statement with earnings per share disclosure. (Amounts to be deducted should be indicated with a minus sign. Round EPS answer to 2 decimal places.)
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