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The following balances from the books of Careless Corporation are given on March 31, 2012, which is the end of the accounting year.
$
Net Sales 600,000Cost of goods sold 200,000Administration expenses 160,000Selling expenses 40,000Restructuring costs 80,000Dividend income 12,000Income from discontinued operations 30,000Loss from disposal of discontinued segment 10,000A tax rate of 40% is charged on all income unless otherwise specified.
Required:
Problem (a) create an income statement for the company in good form at the end of the year.
Problem (b) Calculate the EPS at the end of the accounting year. The company had 100,000 shares of common stock issued and outstanding as on that date.
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