E 2-10 LO 2 10,000 For 2017, determine; 1. Income before income tax. 2. Income tax expense, 3 Net income 4. Earnings per share (EPS), assuming there are 25,000 shares of stock outstanding. 5. Comprehensive income. (Other comprehensive income is zero.) Statement of Comprehensive Income Preparation The following selected information is taken from the records of Pickard and Associates for 2017. Accounts payable $ 143,000 Income taxes (30% of income before Accounts receivable 95,000 income tax) $ Advertising expense 14,500 Miscellaneous expense 5.100 Cash 63.000 Equity 215,000 Supplies expense 31,500 Salaries expense 78.000 Rent expense 12.000 Fees (revenues) 475,000 Utilities expense 2,500 1. Prepare a statement of comprehensive income for the year ended December 31, 2017. (Assume that 11,000 shares of stock are outstanding and other comprehensive income is zero.) 2. Explain what the EPS number tells the reader about Pickard and Associates