Statement of income and Inventory questions:

AP4-13 (Statement of income presentation: basic EPS) The following information was taken from Riddell Ltd:s adjusted trial balance as at April 30, 2016: $1,045,800 Sales revenue 7,200 Interest revenue 24,000 Sales returns and allowances 6,000 Sales discounts Cost of goods sold 396,000 230,250 Distribution expenses Administration expenses 90,250 81,000 Depreciation expense 16,500 Interest expense Income tax expense 56,700 Dividends declared-Common shares 15,000 Dividends declared-Preferred shares 20,000 Required: a. Prepare a single-step statement of income for the year ended April 30, 2016. b. Prepare a multi-step statement of income for the year ended April 30, 2016. Determine Riddell's gross margin percentage for the year. d. If had 35,000 common shares outstanding throughout the year, determine the company's basic earnings per share