Presented below is an income statement for Kinder Company for the year ended December 31, 2015.

Kinder Company

Income Statement

For the Year Ended December 31, 2015

Net sales $850,000

Costs and expenses:

Cost of goods sold 640,000

Selling, general, and administrative expenses 70,000

Other, net 20,000 730,000

Income before income taxes 120,000

Income taxes 36,000

Net income $ 84,000

Additional information:

1. "Selling, general, and administrative expenses" included a charge of $7,000 for impairment of intangibles.

2. "Other, net" consisted of interest expense, $5,000, and a discontinued operations loss of $15,000 before taxes. If the loss had not occurred, income taxes for 2015 would have been $40,500 instead of $36,000.

3. Kinder had 20,000 ordinary shares outstanding during 2015.

Instructions

Prepare a corrected income statement, including the appropriate per share disclosures.