Jordan Sales Company (organized as a corporation on April 1, 2014) has completed the accounting cycle for the second year, ended March 31, 2016. Jordan also has completed a correct trial balance as follows:

JORDAN SALES COMPANY Trial Balance At March 31, 2016
Account Titles	Debit		Credit
Cash	$	58,500
Accounts receivable		49,100
Office supplies inventory		1,600
Automobiles (company cars)		34,400
Accumulated depreciation, automobiles			$	13,400
Office equipment		3,600
Accumulated depreciation, office equipment				700
Accounts payable				21,400
Income taxes payable				0
Salaries and commissions payable				1,000
Note payable, long-term				32,100
Capital stock (par $1; 32,500 shares)				32,500
Paid-in capital				4,600
Retained earnings (on April 1, 2015)				6,800
Dividends declared and paid during the current year		10,700
Sales revenue				104,000
Cost of goods sold		32,400
Operating expenses (detail omitted to conserve time)		18,100
Depreciation expense (on autos and including $700 on office equipment)		7,100
Interest expense		1,000
Income tax expense (not yet computed)
Totals	$	216,500	$	216,500

a.	Classified (multiple-step) income statement for the reporting year ended March 31, 2016. Include income tax expense, assuming a 25 percent tax rate. (Round your "Earnings per share" to 2 decimal places.)

b.	Classified balance sheet at the end of the reporting year, March 31, 2016. Include (1) income taxes for the current year in Income Taxes payable and (2) dividends in Retained earnings. (Amounts to be deducted should be indicated by a minus sign.)