Question

****I need the earnings per share of Common Stock**** The answer is NOT 4.34 Earnings per...

****I need the earnings per share of Common Stock****

The answer is NOT 4.34

Earnings per Share and Multiple-Step Income Statement
The following summarized data relate to Bowden Corporation’s current operations:

Sales revenue $760,000
Cost of goods sold 450,000
Selling expenses 65,000
Administrative expenses 72,000
Loss on sale of equipment 5,000
Income tax expense 42,000
Shares of common stock
Outstanding at January 1 20,000 shares
Additional issued at May 1 7,000 shares
Additional issued at November 1 2,000 shares


Required

Prepare a multiple-step income statement for Bowden Corporation for the year. Include earnings per share disclosure at the bottom of the income statement.

Do not use negative signs with any of your answers below.

BOWDEN CORPORATION
Income Statement
For the Year Ended December 31
Sales Revenue Answer
Cost of Goods Sold Answer
Gross Profit on Sales Answer
Selling Expenses Answer
Administrative Expenses Answer Answer
Operating Income Answer
Loss on Sale of Equipment Answer
Income before Taxes Answer
Income Tax Expense Answer
Net Income Answer
Earnings per share of Common Stock Answer

Homework Answers

Answer #1

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