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Grouper Corporation had net sales of $2,430,000 and interest revenue of $31,200 during 2017. Expenses for 2017 were cost of goods sold $1,454,200, administrative expenses
Grouper Corporation had net sales of $2,430,000 and interest revenue of $31,200 during 2017. Expenses for 2017 were cost of goods sold $1,454,200, administrative expenses $218,700, selling expenses $291,300, and interest expense $52,700. Groupers tax rate is 30%. The corporation had 100,600 shares of common stock authorized and 73,460 shares issued and outstanding during 2017. Prepare a single-step income statement for the year ended December 31, 2017. (Round earnings per share to 2 decimal places, e.g. 1.48.)
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