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

Sales	$	680,000
Shares outstanding		109,000
Cost of goods sold		170,000
Interest expense		37,000
Selling and administrative expense		40,000
Depreciation expense		26,000
Preferred stock dividends		84,000
Taxes		102,000