The following items are components in the income statement of Cohen Corporation for the year Corporate Income Statement ended December 31, 20x1:

Recast the \(20 \mathrm{x} 1\) income statement in proper multistep form, including allocating income taxes to appropriate items (assume a 30 per cent income tax rate) and showing earnings per share figures \((200,000\) shares outstanding).

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Sales 500,000 Cost of Goods Sold (275,000) Operating Expenses (112,500) Total Income Taxes Expense for Period (82,350) Profit from Operations of a Discontinuing Segment 80,000 Gain on Disposal of Segment 70,000 Extraordinary Gain on Retirement of Bonds 36,000 Net Profit 216,150 Earnings per share 1.08