3.

Prepare an income statement for Virginia Slim Wear. Take your calculations all the way to computing earnings per share. (Round EPS answer to 2 decimal places.) $750,000 109,000 330,000 37,000 Sales Shares outstanding Cost of goods sold Interest expense Selling and administrative expense Depreciation expense Preferred stock dividends Taxes 46,000 23,000 84,000 105,000 Virginia Slim Wear Income Statement Earnings available to common stockholders Shares outstanding Earnings per share