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Accounting

Information concerning operations of Camping Gear Corporation during 2011 is as follows:
a. Administrative expenses, $90,000
b. Cost of goods sold, $420,000
c. Extraordinary loss from an earthquake (net of taxes, $36,000), $60,000
d. Sales (net), $900,000
e. Selling expenses, $80,000
f. Income taxes expense applicable to continuing operations, $105,000

Required: Prepare the corporation's income statement for the year ended December 31, 2011, including earnings per share information. Assume a weighted average of 50,000 common shares outstanding during the year.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9981294

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