Problems P 4-1 The following information for Decher Automotives covers the year ended 2012: Administrative expense Dividend income $ 62,000 10,000 (continued) e Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. Income Statement (P 4-1 CONTINUED) Required Income taxes Interest expense Merchandise inventory, 1/1 Merchandise inventory, 12/31 Flood loss (net of tax) Purchases Sales Selling expenses a. Prepare a multiple-step income statement. $ 100,000 20,000 650,000 440,000 30,000 460,000 1,000,000 43,000 b. Assuming that 100,000 shares of common stock are outstanding, calculate the earnings per share before extraordinary items and the net earnings per share. c. Prepare a single-step income statement.