Prepare an income statement for Franklin Kite Co. Take your calculations all the way to computing earnings per share. (Round EPS answer to 2 decimal places.)

Sales

$

1,570,000

Shares outstanding

108,000

Cost of goods sold

970,000

Interest expense

20,000

Selling and administrative expense

47,000

Depreciation expense

30,000

Preferred stock dividends

87,000

Taxes

113,000

Income Statement

	$
	$
	$
	$

Earning Available to common stockholders $________

Shares outstanding ___________

Earnings per share ___________