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Prepare an income statement for Franklin Kite Co. Take your calculations all the way to computing...

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

Sales $ 1,120,000

Shares outstanding 118,000

Cost of goods sold 770,000

Interest expense 29,000

Selling and administrative expense 44,000

Depreciation expense 35,000

Preferred stock dividends 83,000

Taxes 115,000

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