Prepare in good form an income statement for Franklin Kite
Prepare in good form an income statement for Franklin Kite Co. Inc. Take your calculations all the way to computing earnings per share.
Sales $900,000
Shares outstanding 50,000
Cost of goods sold 400,000
Interest expense 40,000
Selling and administrative expense 60,000
Depreciation expense 20,000
Preferred stock dividends 80,000
Taxes 50,000

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