The Calloway Book Company's accounting records include the following for 2021 (in thousands): (Click the icon...

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The Calloway Book Company's accounting records include the following for 2021 (in thousands): (Click the icon to view the accounting records.) Read the requirements. Requirement 1. Prepare Calloway Book Company's single-step income statement for the year ended December 31, 2021, including earnings per share (EPS). Calloway had 1,000,000 shares of common stock and no preferred stock outstanding during the year. (Round earnings per share amounts to the nearest cent.) Calloway Book Company Income Statement Data table Year Ended December 31, 2021 (In thousands except per share amounts) Earnings per share (EPS) Other revenues Income tax expense Sales revenue Total operating expenses Print Done $ 2,300 7,950 129,000 104,800 Requirement 2. Assume Calloway Book Company's income from operations indicates that its core business has steadily increasing by about 10% per year over the past three years and that none of its operations have been discontinued. What does this say about the quality of the company's earnings? The company's quality of earnings would be considered to be based on its steady growth each year and no discontinued operations during recent years. The Calloway Book Company's accounting records include the following for 2021 (in thousands): (Click the icon to view the accounting records.) Read the requirements. Requirement 1. Prepare Calloway Book Company's single-step income statement for the year ended December 31, 2021, including earnings per share (EPS). Calloway had 1,000,000 shares of common stock and no preferred stock outstanding during the year. (Round earnings per share amounts to the nearest cent.) Calloway Book Company Income Statement Data table Year Ended December 31, 2021 (In thousands except per share amounts) Earnings per share (EPS) Other revenues Income tax expense Sales revenue Total operating expenses Print Done $ 2,300 7,950 129,000 104,800 Requirement 2. Assume Calloway Book Company's income from operations indicates that its core business has steadily increasing by about 10% per year over the past three years and that none of its operations have been discontinued. What does this say about the quality of the company's earnings? The company's quality of earnings would be considered to be based on its steady growth each year and no discontinued operations during recent years.