The following information was taken from Egeland Ltd.s adjusted trial balance as at July 31, 2020:

Sales revenue		$2,798,000
Interest expense		43,000
Cost of goods sold		1,558,486
Utilities expense		17,000
Depreciation expense		217,000
Distribution expenses		417,000
Administration expenses		277,000
Advertising expense		63,000
Interest revenue		20,000
Income tax expense		79,000
Dividends declaredCommon shares		32,000
Dividends declaredPreferred shares		17,514

Prepare a single-step statement of income for the year ended July 31, 2020.

Prepare a multi-step statement of income for the year ended July 31, 2020.

Determine Egelands gross margin percentage for the year. (Round answer to 1 decimal place, e.g. 52.7%.)

Gross profit margin _____________%

If Egeland had 86,000 common shares outstanding throughout the year, determine the company's basic earnings per share. (Round answer to 2 decimal places, e.g. 52.75.)

Basic earnings per share $_____________

Egeland Ltd. Statement of Income $ $ > $ Egeland Ltd. Statement of Income FA