Prepare a single-step statement of income for the year ended April 30, 2016. Prepare a multi-step statement of income for the year ended April 30, 2016.

Determine Riddells gross margin percentage for the year. (Round answer to 2 decimal places, e.g. 52.75%.)

If Riddell had 40,500 common shares outstanding throughout the year, determine the companys basic earnings per share.

Application Problem 4-13 The following information was taken from Riddell Ltd.'s adjusted trial balance as at April 30, 2016: Sales revenue Interest revenue Sales returns and allowances Sales discounts Cost of goods sold Distribution expenses Administration expenses Depreciation expense Interest expense Income tax expense Dividends declared-Common shares Dividends declared-preferred shares $1,063,000 6,300 23,000 6,500 393,000 238,000 91,000 60,000 18,400 54,900 17,500 22,500