The financial records of LeRoi Jones Inc. were destroyed by fireat the end of 2017. Fortunately, the controller had kept certainstatistical data related to the income statement as follows.
| 1. | | The beginning merchandise inventory was $92,000 and decreased20% during the current year. |
| 2. | | Sales discounts amount to $17,000. |
| 3. | | 20,000 shares of common stock were outstanding for the entireyear. |
| 4. | | Interest expense was $20,000. |
| 5. | | The income tax rate is 30%. |
| 6. | | Cost of goods sold amounts to $500,000. |
| 7. | | Administrative expenses are 20% of the cost of goods sold butonly 8% of gross sales. |
| 8. | | Four-fifths of the operating expenses related to salesactivities. |
From the foregoing information prepare an incomestatement for the year 2017 in single-step form.(Round earnings per share to 2 decimal places, e.g.1.48.)
