The following items are components of Aconite Corporation's income statement for the year ended December 31, 20x1:

Recast the income statement in proper multistep form, including allocating income taxes to appropriate items (assume a 30 percent income tax rate) and showing earnings per share figures (200,000 shares outstanding). L01

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Sales Cost of goods sold $555,000 (275,000) Operating expenses (112,500) Restructuring (55,000) Total income taxes expense for period (82,350) Income from operations of a discontinued segment 80,000 Gain on disposal of segment 70,000 Extraordinary gain 36,000 Cumulative effect of a change in accounting principle (24,000) Net income $192,150 Earnings per share $.96