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Problem 9-01 From the following information, construct a simple income statement and a balance sheet: Sales Finished goods Long-term debt Raw materials Cash Cost of goods sold Accounts receivable Plant and equipment Interest expense Number of shares outstanding Earnings before taxes Taxes Accounts payable Other current liabilities Other expenses Equity $1,100,000 300,000 300,000 120,000 65,000 450,000 190,000 340,000 100,000 90,000 420,000 100,000 170,000 30,000 130,000 515,000 Round your answer for earnings per share to the nearest cent. Corporation X: Income Statement for the Year Ended XX/XX/XX Sales Cost of goods sold Other expenses Earnings before interest and taxes Interest expense Earnings before taxes Taxes Net earnings Number of shares outstanding Earnings per share Number of shares outstanding Earnings before taxes Taxes Accounts payable Other current liabities Other expenses Equity 10 90,000 420,000 100,000 170,000 30,000 130,000 515,000 Round your answer for earnings per share to the nearest cent. Corporation : Income Statement for the Year Ended XX/XX/XX Sales Cost of goods sold Other expenses Earnings before interest and taxes Interest expense Earnings before taxes Taxes Net earings Number of shares outstanding Earnings per share Corporation X Balance sheet as of XX/XX/XX Liabilities and Owners' Equity Accounts payable Other current liabilities Total current liabilities Long-term debt Equity Assets Cash Accounts receivable Inventories Raw materials Finished goods Total inventories Total current assets plant and Equipment Total assets Total liabilities and shareholders' equity $

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