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Brief Exercise 4-12 Sarasota Corporation had net sales revenue of $5,940,000 and investment revenue of $225,000 for the year ended December 31, 2020. Other items
Brief Exercise 4-12 Sarasota Corporation had net sales revenue of $5,940,000 and investment revenue of $225,000 for the year ended December 31, 2020. Other items pertaining to 2020 were as follows: Cost of goods sold $4,660,000 Salaries and wages expense (sales) Advertising expense Entertainment expense Selling expenses 365,000 124,000 74,000 563,000 Salaries and wages expense (administrative) Rent expense Utilities expense Administrative expenses 306,000 110,000 43,000 459,000 Increase in value of company reputation Unrealized gain on value of patents Interest expense Income tax expense 70,000 37,000 155,000 80,000 Sarasota has 100,000 common shares outstanding throughout the year. Prepare a single-step income statement showing expenses by nature. Include calculation of EPS. (Round per share answer to 2 decimal places, e.g. 52.72.) Sarasota Corporation Income Statement
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