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King Company 12/31/20x2 Partial Trial Balance Data Debits Credits Sales revenue 805,000 Interest revenue 67,000 Gain on sale of investments 117,000 Selling expense Cost
King Company 12/31/20x2 Partial Trial Balance Data Debits Credits Sales revenue 805,000 Interest revenue 67,000 Gain on sale of investments 117,000 Selling expense Cost of goods sold Interest expense General and administrative expenses 570,000 143,000 37,000 114,000 King had 50,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 25%. Required: Prepare a multiple-step income statement with earnings per share disclosure. (Amounts to be deducted should be Indicated with a minus sign. Round Earnings per share answer to 2 decimal places.)
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