Prepare an income statement using the following data for Bain Corporation for the year ended December 31, 2017 During the year the company had disposed of its Johnson Division as it had become inoperable Required: Calculate the EPS section in proper form and good order for Bain Corporation for the year ended December 31, 2017 Hint: Prepare The Corporate Profit & Loss Financial Report First. HINT: YOU CAN USE YOUR TEXT BOOK Chapter 16 Exhibit 12 Corporate Income Statement Read Chapter 16 Pg 683-690 Evaluating Quality of Earnings Sales $1,420,000 Cost of merchandise sold 600,000 Selling and administrative expenses 320,000 Gain from sale of investments 30,000 40% Income tax expense Loss on disposal of Johnson Division Income from operations of Johnson Division Interest revenue

Interest on borrowings by the company Common stock outstanding ($2 par) Authorised share capital ($2 par) 126,000 78,000 10,000 15,000 200,000 1,000,000

Prepare an income statement using the following data for Bain Corporation for the year ended December 31, 2017 During the year the company had disposed of its Johnson Division as it had become inoperable Required: Calculate the EPS section in proper form and good order for Bain Corporation for the year ended December 31, 2017 Hint: Prepare The Corporate Profit \& Loss Financial Report First. HINT: YOU CAN USE YOUR TEXT BOOK Chapter 16 Exhibit 12 Corporate Income Statement Read Chapter 16 Pg 683-690 Evaluating Quality of Earnings Sales Cost of merchandise sold Selling and administrative expenses Gain from sale of investments Income tax expense Loss on disposal of Johnson Division Income from operations of Johnson Division Interest revenue Interest on borrowings by the company Common stock outstanding ( $2 par) Authorised share capital ( $2 par) $1,420,000 600,000 320,000 30,000 40% 126,000 78,000 10,000 15,000 200,000 1,000,000