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

Sales Shares outstanding Cost of goods sold Interest expense Selling and administrative expense Depreciation expense Preferred stock dividends Taxes $1,450,000 107,000 920,000 30,000 46,000 29,000 89,000 101,000 Virginia Slim Wear Income Statement Earnings available to common stockholders Shares outstanding Earnings per share