You may use the attached spreadshot to hnip you complete this activity, but you are not required to do so. You will find the spreadsheet by clicking on the green Excel.con in the wper left hand comer of the activity Simple Income Statement The following are selected in Albertson Company as of December 31, 2016 Purchases (net) $63,00 Sales (ne $100,000 Merchandise invertory, January 1, 2016 520,000 Operating experies $22.000 Gain on sale of equipment $5,000 the merchandise inventory on December 1, 20341, 85!,XI. Ina thousand shares of common stock have been outstanding the entire year. Albertson uses a penodic inventory system. Required: Assuming a 30% income tax rate on all items of income, prepare a 2016 income statement for Albertson Company using a multiple step format sound earnings per share computations to the nearest cent. ALBERTSON COMPANY Income Statement (Multi-Stop) For Year Ended December 31, 2016 Costol vous solu Cother items inih in You may use the attached spreadshot to hnip you complete this activity, but you are not required to do so. You will find the spreadsheet by clicking on the green Excel.con in the wper left hand comer of the activity Simple Income Statement The following are selected in Albertson Company as of December 31, 2016 Purchases (net) $63,00 Sales (ne $100,000 Merchandise invertory, January 1, 2016 520,000 Operating experies $22.000 Gain on sale of equipment $5,000 the merchandise inventory on December 1, 20341, 85!,XI. Ina thousand shares of common stock have been outstanding the entire year. Albertson uses a penodic inventory system. Required: Assuming a 30% income tax rate on all items of income, prepare a 2016 income statement for Albertson Company using a multiple step format sound earnings per share computations to the nearest cent. ALBERTSON COMPANY Income Statement (Multi-Stop) For Year Ended December 31, 2016 Costol vous solu Cother items inih in