Prepare an income statement for Virginia Slim Wear. Take your calculations all the way to computing earnings per share.

Sales	$1,360,000
Shares outstanding	104,000
Cost of goods sold	700,000
Interest expense	34,000
Selling and administrative expense	49,000
Depreciation expense	23,000
Preferred stock dividends	86,000
Taxes	100,000

What is the correct amount for net income?

What is the correct amount for net income attributable to common shareholders?