Given the following information for the E. Gills Company for 2017, prepare a

Multiple-Step Income Statement in good format, and with appropriate sub-totals.

Be sure to include a calculation of Earnings Per Share.

Cost of Goods Sold

$243,000

Income Tax Expense

$45,000

Gain on disposition of the (disposed of) Kelly division (net of tax)

$15,000

Gain on Sale of Building

$39,000

Interest Expense

$8,000

Loss from hurricane damage

$16,000

Loss on operations of the Kelly division (net of tax)

$11,000

Rental Revenue

$17,000

Sales

$520,000

Sales Discounts

$12,000

Sales Returns & Allowances

$5,000

Selling and Administrative Expense

$36,000

Number of Weighted Average Common Shares Outstanding

84,000