[The following information applies to the questions displayed below.]

Jordan Sales Company (organized as a corporation on April 1, 2014) has completed the accounting cycle for the second year, ended March 31, 2016. Jordan also has completed a correct trial balance as follows:

JORDAN SALES COMPANY Trial Balance At March 31, 2016
Account Titles	Debit		Credit
Cash	$	58,000
Accounts receivable		49,000
Office supplies inventory		1,000
Automobiles (company cars)		34,000
Accumulated depreciation, automobiles			$	14,000
Office equipment		3,000
Accumulated depreciation, office equipment				1,000
Accounts payable				22,000
Income taxes payable				0
Salaries and commissions payable				2,000
Note payable, long-term				33,000
Capital stock (par $1; 33,000 shares)				33,000
Paid-in capital				5,000
Retained earnings (on April 1, 2015)				7,500
Dividends declared and paid during the current year		10,500
Sales revenue				99,000
Cost of goods sold		33,000
Operating expenses (detail omitted to conserve time)		19,000
Depreciation expense (on autos and including $500 on office equipment)		8,000
Interest expense		1,000
Income tax expense (not yet computed)
Totals	$	216,500	$	216,500

rev: 03_12_2014_QC_44957

5.

value: 15.00 points

Required information

Required:

Complete the financial statements as follows:

a.	Classified (multiple-step) income statement for the reporting year ended March 31, 2016. Include income tax expense, assuming a 25 percent tax rate. (Round your "Earnings per share" to 2 decimal places.)