Problem 1 The partial trial balance of Plano Company included the following accounts as of December 31, 2018: Debits Credits Plano Co. 12/31/2018 Partial Trial Balance Data Sales revenue Interest revenue Gain on sale of investments Cost of goods sold Selling expenses Interest expense General and administrative expenses Research and development Restructuring costs Operating loss for discontinued operation until disposal date Disposal loss on discontinued operation 1,400,000 60,000 140,000 800,000 150,000 20,000 80,000 50,000 120,000 150,000 120,000 Plano had 100,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 25%. Required: Prepare a multiple-step income statement including earnings per share disclosure