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

Sales revenue	$968,500
Cost of goods sold	585,000
Selling expenses	75,400
Administrative expenses	93,600
Loss on sale of equipment	6,500
Income tax expense	62,400
Shares of common stock
Outstanding at January 1	15,000	shares
Additional issued at May 1	9,100	shares
Additional issued at November 1	2,600	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.

BOWDEN CORPORATION Income Statement For the Year Ended December 31
Sales Revenue		968,500
Cost of Goods Sold		585,000
Gross Profit on Sales		383,500
Selling Expenses	75,400
Administrative Expenses	93,600	169,000
Operating Income		214,500
Loss on Sale of Equipment		6,500
Income before Taxes		208,000
Income Tax Expense		(62,400 is incorrect)
Net Income		?
Earnings per share of Common Stock		?