The following information for Decher Automotives covers the year ended 2010:
Administrative expense ............. $ 62,000
Dividend income ............... 10,000
Income taxes .................. 100,000
Interest expense ................ 20,000
Merchandise inventory, 1/1 ........... 650,000
Merchandise inventory, 12/31 ........... 440,000
Flood loss (net of tax) ............... 30,000
Purchases .................... 460,000
Sales ..................... 1,000,000
Selling expenses ................ 43,000

Required
a. Prepare a multiple-step income statement.
b. Assuming that 100,000 shares of common stock are outstanding, calculate the earnings per share before extraordinary items and the net earnings per share.
c. Prepare a single-step income statement.