Plano Co. 12/31/2021 Partial Trial Balance Data Debits Credits

Sales revenue 700,000

Interest revenue 60,000

Gain on sale of investments 110,000

Cost of goods sold 500,000

selling expense 150,000

interest expense 40,000

General and administrative expenses 100,000

Plano 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 single-step income statement with earnings per share disclosure. (Round EPS answer to 2 decimal places.)

Plano Co. income statement

for the year ended december 31, 2021

revenues and gains

Total revenues and gains

Expenses

Total expenses

income before income taxes

Net income (loss)

earnings per share