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Earnings per Share and Multiple-Step Income Statement The following summarized data relate to Bowden Corporations current operations: Sales revenue $745,000 Cost of goods sold 450,000

Earnings per Share and Multiple-Step Income Statement The following summarized data relate to Bowden Corporations current operations:

Sales revenue $745,000
Cost of goods sold 450,000
Selling expenses 58,000
Administrative expenses 72,000
Loss on sale of equipment 5,000
Income tax expense 64,000
Shares of common stock
Outstanding at January 1 15,000 shares
Additional issued at May 1 7,000 shares
Additional issued at November 1 2,000 shares

Required Prepare a multiple-step income statement for Bowden 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.

BOWDEN 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

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