Question

Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $640 were declared at the end of the year, and 500 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $3,160 in cash (for a total at the end of the year of 880 shares). These effects are included below:

Catenas Marketing Company
Adjusted Trial Balance
End of the Current Year
	Debit	Credit
Cash	$1,540
Accounts receivable	2,280
Interest receivable	116
Prepaid insurance	1,680
Long-term notes receivable	3,200
Equipment	16,090
Accumulated depreciation		$3,160
Accounts payable		2,560
Dividends payable		640
Accrued expenses payable		4,000
Income taxes payable		1,776
Unearned rent revenue		540
Common Stock (880 shares)		88
Additional paid-in capital		3,700
Retained earnings		1,560
Sales revenue		40,340
Rent revenue		840
Interest revenue		116
Wages expense	20,300
Depreciation expense	1,960
Utilities expense	412
Insurance expense	822
Rent expense	9,160
Income tax expense	1,760
Total	$59,320	$59,320

Prepare a multistep income statement for the current year. Note: Round your earnings per share to 2 decimal places.