This is a variation of the previous problem focusing on income statement presentation. Required: Refer to the

Question:

This is a variation of the previous problem focusing on income statement presentation.

Required:

Refer to the information presented in Problem 4-4. Prepare a revised income statement for 2011 reflecting the additional facts. Use a multiple-step format. Assume that an income tax rate of 40% applies to all income statement items, and that 20 million shares of common stock were outstanding throughout the year.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...