8. OLP Corporations accounting records include the following items, listed in no particular order, at December 31, 2012:

other gains (losses) 15,000

net sales revenue 176,000

gain on discontinued oeperations 10,000

A/R 20,000

extraordinary loss 5,000

COGS 74,000

operatin expense 58,000

Income tax of 40% applies to all items.

Requirement

Prepare OLP s income statement for the year ended December 31, 2012. Omit earnings per share.