Prepare an income statement for Virginia Slim Wear

jagguarpaw January 24, 2017 0 Comments

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