The selling expenses of Caribou Inc. for 2002 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.