The following information was taken from the records of Skysong Inc. for the year 2017: Income...

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Accounting

The following information was taken from the records of SkysongInc. for the year 2017: Income tax applicable to income fromcontinuing operations $174,148; income tax applicable to loss ondiscontinued operations $28,322, and unrealized holding gain onavailable-for-sale securities (net of tax) $18,000.
Gain on sale of equipment $98,100 Cash dividends declared $160,700
Loss on discontinued operations 83,300 Retained earnings January 1, 2017 625,400
Administrative expenses 246,100 Cost of goods sold 879,200
Rent revenue 44,500 Selling expenses 289,400
Loss on write-down of inventory 65,700 Sales Revenue 1,850,000

Shares outstanding during 2017 were 105,300.
Prepare a single-step income statement. (Roundearnings per share to 2 decimal places, e.g.1.48.)

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Answer A singlestep income statement are as follows Particular Amount Sales Revenue 1850000 Add Rent Revenue 44500 Total Revenue 1894500 Less Expense Cost of goods sold 879200 Selling Expense 289400 See Answer

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Gain on sale of equipment	$98,100	Cash dividends declared	$160,700
Loss on discontinued operations	83,300	Retained earnings January 1, 2017	625,400
Administrative expenses	246,100	Cost of goods sold	879,200
Rent revenue	44,500	Selling expenses	289,400
Loss on write-down of inventory	65,700	Sales Revenue	1,850,000