The following are selected items derived from Dibb Company's adjusted trial balance on December 31, 2016:

Loss on sale of land	$5,000
Cost of goods sold	$130,000
Sales (net)	$198,000
Operating expenses	45,000

Twelve thousand shares of common stock were outstanding the entire year.

Required:

Assuming a 30% income tax rate on all items of income, prepare a 2016 income statement for Dibb's Company using a multiple-step format. Round earnings per share computations to two decimal places.

DIBB COMPANY
Income Statement (Multiple-Step)
For Year Ended December 31, 2016
Sales (net)	$
Cost of goods sold
Gross profit	$
Operating expenses
Operating income	$
Other items
Loss on sale of land
Income before income tax	$
Income tax expense
Net income	$
Components of Income	EPS
Net income	$

Assuming a 30% income tax rate on all items of income, prepare a 2016 income statement for Dibb's Company using a single-step format. Round earnings per share computations to two decimal places.

DIBB COMPANY
Income Statement (Single-Step)
For Year Ended December 31, 2016
Revenues
Sales (net)		$
Expenses
Cost of goods sold	$
Operating expenses
Loss on sale of land
Income tax expense
Total expenses
Net income		$
Components of Income		EPS
Net income		$