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2-4. Prepare in good form an income statement for Virginia Slim Wear. Take your calculations all the way to computing earnings per share. Sales $600,000

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2-4. Prepare in good form an income statement for Virginia Slim Wear. Take your calculations all the way to computing earnings per share. Sales $600,000 Shares outstanding 100,000 Cost of goods sold 200,000 Interest expense 30,000 Selling and administrative expense 40,000 Depreciation expense 20,000 Preferred stock dividends 80,000 Taxes 100,000 (EPS= $1.30)

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