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Question - Plano Co. 12/31/2021 Partial Trial Balance Data
Debits
Credits
Sales revenue
715,000
Interest revenue
61,000
Gain on sale of investments
111,000
Cost of goods sold
510,000
Selling expense
149,000
Interest expense
31,000
General and admin expenses
102,000
Plano had 50,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 25%.
Required - Construct a single-step income statement with earnings per share disclosure?
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