Prepare an income statement and compute earnings per share. The following information is available for...
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Prepare an income statement and compute earnings per share. The following information is available for Norman Corporation for the year ended December 31, 2017: sales revenue $700,000, other revenues and gains $92,000. operating expenses $110,000, cost of goods sold S465,000, other expenses and losses $32,000, and preferred stock dividends $30,000. The company's tax rate was 30%. and it had $0,000 shares outstanding during the entire year. (a) Prepare a corporate income statement. (b) Calculate earnings per share
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