Earnings per Share and Multiple-Step Income Statement The following summarized data relate to Bowden Corporation's current operations: Sales revenue $760,000 Cost of goods sold Selling expenses Administrative expenses 450,000 65,000 72,000 (considered unusual and infrequent) Loss on sale of equipment 5,000 Income tax expense (not allocated) 42,000 Shares of common stock Outstanding at January 1 Additional issued at May 1 Additional issued at November 1 20,000 shares 7,000 shares 2,000 shares Required Prepare a multiple-step income statement for Bowden Corporation for the year. Assume a 25 percent income tax rate. Allocate income tax expense within the income statement. Include earnings per share disclosure at the bottom of the income statement