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

Debits Credits

Sales revenue 632,000

Interest revenue 75,000

Gain on sale of investments 125,000

Cost of goods sold 450,000

Selling expense 135,000

Interest expense 25,000

General and administrative expenses 90,000

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:

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

PLANO CO.Income Statement For the Year Ended December 31, 2021

Revenues and gains:

Total revenues and gains 0

Expenses:

Total expenses 0

Income before income taxes 0

Net income (loss)

Earnings per share