Plano had 50,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 30%.

1. Required: Prepare a single-step income statement with basic earnings per share disclosure.

2. Prepare a multiple-step income statement with earnings per share disclosure.

Debits Credits Plano Co. 12/31/13 Partial Trial Balance Data 700,000 60,000 110,000 Sales revenue Interest revenue Gain on sale of investments (infrequent but not unusual item) Cost of goods sold Selling expenses Restructuring costs Interest expense General and administrative expenses 500,000 150,000 40,000 30,000 60,000