125% Zoom Add Category Pivot Table Insert Table Chart Problem 2-8 D E F G H Prepare in good form an income statement for Franklin Kite Co. Take your calculations all the way to computing earnings per share. Salos Shares outstanding Cost of goods sold Interest expense Selling and administrative expense Depreciation expense Preferred stock dividends Taxes $900,000 50,000 400,000 40,000 60,000 20,000 80,000 50,000 Solution Problem 2-8 Instructions Enter data and formulas to complete the income Statement template below. Franklin Kite Co. Income Statement 900.000 FORMULA FORMULA Sales Cost of goods sold Gross profit Selling and administrative expense Depreciation expense Operating profit Interest expense Earnings before taxes Taxes Earnings after taxes Preferred stock dividends Earnings available to common stockholders Shares outstanding Earnings per share FORMULA FORMULA FORMULA FORMULA FORMULA 7 tv