Income taxes $100,000 Interest expense 20,000 Merchandise inventory, 1/1 650,000 Merchandise inventory, 12/31 440,000 Flood loss (net of tax) 30,000 Purchases 460,000 Sales 1,000,000 Selling expenses 43,000 a. Prepare a multiple-step income statement. b. Assuming that 100,000 shares of common stock are outstanding, calculate the earnings per share before extraordinary items and the net earnings per share. c. Prepare a single-step income statement