Reference no: EM132421074
Problem: Earnings per Share and Multiple-Step Income Statement The following summarized data relate to Robert Corporation's current operations:
Sales revenue.........................................................................................................................$800,000
Costs of goods sold.................................................................................................................460,000
Selling expenses....................................................................................................................65,000
Administrative expense...........................................................................................................72,000
Loss on-sale of equipment................................................................................................................................4,000
Income tax expense............................................................................................................................................42,000
Shares of common stock
Outstanding at January 1................................................................................................................................20,000 shares
Additional Issued at May 1...............................................................................................................................7,000
Additional Issued at November 1....................................................................................................................2,000 shares
Required
Make a multiple-step income statement for Robert Corporation for the year. Include earnings per share disclosure at the bottom of the income statement.