Earnings per Share and Multiple$-$Step Income Statement

The following summarized data relate to Robert Corporation$$s current operations:

Sales revenue $$800,000$

Cost of goods sold $460,000$

Selling expenses $65,000$

Administrative expenses $72,000$

Loss on sale of equipment $4,000$

Income tax expense $42,000$

Shares of common stock

Outstanding at January $120,000$ shares

Additional issued at May $17,000$ shares

Additional issued at November $12,000$ shares

Required

Prepare a multiple$-$step income statement for Robert Corporation for the year. Include earnings per share disclosure at the bottom of the income statement.

Do not use negative signs with any of your answers below.

ROBERT CORPORATION

Income Statement

For the Year Ended December $31$

Sales Revenue Answer

Cost of Goods Sold Answer

Gross Profit on Sales Answer

Selling Expenses Answer

Administrative Expenses Answer

Answer

Operating Income Answer

Loss on Sale of Equipment Answer

Income before Taxes Answer

Income Tax Expense Answer

Net Income Answer

Earnings per share of Common Stock Answer