Prepare an income statement

a.	Classified (multiple-step) income statement for the reporting year ended March 31, 2016. Include income tax expense, assuming a 25 percent tax rate. (Round your "Earnings per share" to 2 decimal places.)

Jordan Sales Company (organized as a corporation on April 1, 2014) has completed the accounting cycle for the second year, ended March 31, 2016. Jordan also has completed a correct trial balance as follows:

JORDAN SALES COMPANY Trial Balance At March 31, 2016
Account Titles	Debit		Credit
Cash	$	58,500
Accounts receivable		49,500
Office supplies inventory		1,500
Automobiles (company cars)		34,600
Accumulated depreciation, automobiles			$	13,500
Office equipment		4,000
Accumulated depreciation, office equipment				1,400
Accounts payable				21,600
Income taxes payable				0
Salaries and commissions payable				1,300
Note payable, long-term				32,500
Capital stock (par $1; 32,200 shares)				32,200
Paid-in capital				5,000
Retained earnings (on April 1, 2015)				7,200
Dividends declared and paid during the current year		11,300
Sales revenue				104,800
Cost of goods sold		32,700
Operating expenses (detail omitted to conserve time)		18,300
Depreciation expense (on autos and including $600 on office equipment)		8,000
Interest expense		1,100
Income tax expense (not yet computed)
Totals	$	219,500	$	219,500