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For the following problem, I was able to complete but need help finding EPS. Please include equation with solution. The following income statement items appeared

For the following problem, I was able to complete but need help finding EPS. Please include equation with solution.

The following income statement items appeared on the adjusted trial balance of Schembri Manufacturing Corporation for the year ended December 31, 2018 ($ in 000s): sales revenue, $19,100; cost of goods sold, $8,100; selling expenses, $1,490; general and administrative expenses, $990; interest revenue, $250; interest expense, $220. Income taxes have not yet been recorded. The companys income tax rate is 30% on all items of income or loss. These revenue and expense items appear in the companys income statement every year. The companys controller, however, has asked for your help in determining the appropriate treatment of the following nonrecurring transactions that also occurred during 2018 ($ in 000s). All transactions are material in amount.

Investments were sold during the year at a loss of $410. Schembri also had unrealized gains of $510 for the year on investments.

One of the companys factories was closed during the year. Restructuring costs incurred were $2,200.

During the year, Schembri completed the sale of one of its operating divisions that qualifies as a component of the entity according to GAAP. The division had incurred a loss from operations of $700 in 2018 prior to the sale, and its assets were sold at a gain of $1,700.

In 2018, the companys accountant discovered that depreciation expense in 2017 for the office building was understated by $390.

Negative foreign currency translation adjustment for the year totaled $430.

Required:

1. Prepare Schembris single, continuous multiple-step statement of comprehensive income for 2018, including earnings per share disclosures. One million shares of common stock were outstanding at the beginning of the year and an additional 800,000 shares were issued on July 1, 2018.

2. Prepare a separate statement of comprehensive income for 2018.

SCHEMBRI MANUFACTURING CORPORATION

Statement of Comprehensive Income

For the Year Ended December 31, 2018

($ in 000s)

Sales revenue

$19,100

Cost of goods sold

(8,100)

Gross profit

11,000

Operating expenses

Selling expense

$(1,490)

General and administrative expense

(990)

Restructuring costs

(2,200)

Total operating expenses

(4,680)

Operating income

6,320

Other income (expense)

Loss on sales of investments

$(410)

Interest expense

(220)

Interest revenue

250

Other income (expense)

(380)

Income from continuing operations before income taxes

5,940

Income tax expense

1,782

Income from continuing operations

4,158

Discontinued operations

Income from operations of discontinued component

1,000

Income tax expense

(300)

Income from discontinued operations

700

Net income

4,858

Other comprehensive income (loss)

Unrealized gains from investments, net of tax

357

Loss from foreign currency translation, net of tax

(301)

56

Comprehensive income

$4,914

Earnings per share:

Income from continuing operations

Income from discontinued operations

Net income

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