P 4-1. The following information for Decher Auto motives covers the year ended 2000: Administrative expense $ 62,000 Dividend income 10,000 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

Required

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.