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	$	1,110,000
Shares outstanding		186,000
Cost of goods sold		550,000
Interest expense		25,000
Selling and administrative expense		42,000
Depreciation expense		39,000
Preferred stock dividends		84,000
Taxes		112,000