Problem 1 Income Statement

The partial trial balance of Rollins Inc. included the following accounts as of December 31, 2018:

	Debits		Credits
Sales revenue			5,100,000
Interest revenue			36,000
Loss on sale of investments	10,000
Unrealized holding losses on investments	110,000
Foreign currency translation adjustment			220,000
Cost of goods sold	3,680,000
Selling expenses	320,000
Restructuring costs	140,000
Interest expense	20,000
General and administrative expenses	220,000

Rollins had 100,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 40%. Required: Prepare a 2018 multiple-step income statement for Rollins Inc. with earnings per share disclosure. Some of the items listed above may not be needed for the income statement. (Amounts to be deducted should be indicated with a minus sign. Round EPS answer to 2 decimal places.)