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Prepare an income statement for Virginia Slim Wear. Take your calculations all the way to computing...

Prepare an income statement for Virginia Slim Wear. Take your calculations all the way to computing earnings per share. (Round EPS answer to 2 decimal places.)
  

Sales $ 630,000
Shares outstanding 106,000
Cost of goods sold 240,000
Interest expense 32,000
Selling and administrative expense 45,000
Depreciation expense 20,000
Preferred stock dividends 85,000
Taxes 101,000
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