1. The trial balance of Lakewood Inc. included the following accounts as of December 31, 2018:

	Debits	Credits
Sales Revenue		$1,800,000
Interest Revenue		80,000
Gain on Sale of Investments		50,000
Cost of Goods Sold	1,100,000
Selling Expenses	220,000
Write-off of Obsolete Equipment	30,000
Interest Expenses	40,000
General and Administrative	200,000

Lakewood Inc. had 100,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 30%.

Required:

Prepare a single-step income statement with earnings per share disclosure.