Income statement including earnings-per-share data

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Reference no: EM13177521

The selling expenses of Caribou Inc. for 2011 are 13% of sales. General expenses, excluding doubtful accounts, are 25% of cost of goods sold but only 15% of sales. Doubtful accounts are 2% of sales. The beginning inventory was $136,000, and it decreased 30% during the year. Income from operations for the year before income taxes of 30% is $160,000. Extraordinary gain, net of tax of 30%, is $21,000.

Prepare an income statement, including earnings-per-share data, giving supporting computations. Caribou Inc. has 130,000 shares of common stock outstanding.

Reference no: EM13177521

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