Question: Prepare an income statement for Virginia Slim Wear…
Prepare an income statement for Virginia Slim Wear. Take your calculations all the way to computing earnings per share. (Round EPS answer to 2 decimal places.)
| Sales | $ | 680,000 |
| Shares outstanding | 109,000 | |
| Cost of goods sold | 170,000 | |
| Interest expense | 37,000 | |
| Selling and administrative expense | 40,000 | |
| Depreciation expense | 26,000 | |
| Preferred stock dividends | 84,000 | |
| Taxes | 102,000 | |
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