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Below are the account balances for Joss Corporation as of its fiscal year ended April 30, 2020. Sales $320,000 Selling Expenses $100,000 Administrative Expenses $32,000
Below are the account balances for Joss Corporation as of its fiscal year ended April 30, 2020. Sales $320,000 Selling Expenses $100,000 Administrative Expenses $32,000 Cost of Goods Sold $160,000 Extraordinary loss from hurricane $150,000 Discontinued Operations: (1) Income from Discontinued Operations $40,000 (2) Loss on Disposal of discontinued Segment $28,000 Income Taxes applicable 40% Common stock outstanding: $4 par $20,000 Required: A Prepare an Income Statement for the year. [14] B Show the EPS section of the income statement. 4)
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