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work Mickey Corporation's capital structure consists of 50,000 shares of common stock outstanding all of 2021. At December 31, 2021 an analysis of the accounts

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work Mickey Corporation's capital structure consists of 50,000 shares of common stock outstanding all of 2021. At December 31, 2021 an analysis of the accounts and discussions with company officials revealed the following information. Amounts below are given in thousands--that is, the 000s have been removed and you may leave them off on your Income Statement Sales revenue 1.250 60 Loss on operations of wholesale division 30 Loss on disposal of wholesale division Selling expenses 128 Cash 60 Accounts receivable 90 Some dont Common stock 200 Cost of goods sold 700 Accumulated depreciation-machinery 180 Dividend revenue 8 Unearned service revenue 4 Interest payable 1 Land 370 Patents 100 Retained earnings January 1, 2021 270 Interest expense 17 Administrative expenses 170 Dividends declared 24 Allowance for doubtful accounts 5 Notes payable (maturity 7/1/25) 200 Machinery 450 Materials 40 Accounts payable 60 Mickey Corporation decided to discontinue its wholesale operations, which will be accounted for as a discontinued operation. On July 1, 2021 Martin sold the wholesale operations. The income tax rate is 30%. REQUIRED: On the following page, prepare in good form the multiple-step income statement for Mickey Corporation, including the per share amounts. Please round to nearest thousand when calculating net income. HINT: Remember to add the 000s back to the dollar amounts before calculating EPS - in C 1 1,250,000 D CA corporations income Statement for the year ended Dec 31, 2021 saler cost of goods sold 100.000 Gross protit 1550,000 Operchning Expenses selling Expenses 128.000 Administrative Expense 110,000 Total operating Eupence 298.000 752.000 other revenue & Expense. operating income Dividend revelille 8,000 interest Expense (17.000) (9000) income before income taxes 243,000 Income taxes 72.000 Income from conhnuing operations 170.100 Discontinued ovexation loss on Othons of wholesale division 60,000 locs on disposal at wholesale division 30,000 30,000 Livet income 700,00 Earninas per share 3.40 A how

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