Sales Revenue$800,000

Pretax loss from operation of discontinued division15,000

Cost of goods sold185,000

Pretax gains from foreign currency translation30,000

pretax deferred loss on derivative50,000

Pretax loss on disposal of discontinued division70,000

Selling expenses25,000

Administrative expenses45,000

Interest revenue108,000

Loss on write-down of obsolete inventory10,000

Shares of common stock outstanding, 10,000 shares.

Tax rate of 30% on all items

Instructions

Create a multiple-step income statement for Fred, Inc. for the year ended December 31, 2020 including earnings per share