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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 Cost of goods sold

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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
Cost of goods sold 570,000
Selling expense 143,000
Interest expense 37,000
General and administrative expenses 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.)

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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