Teruya Corporation provided the following relevant information for its fiscal year ending September 30, 2019:

On October 1, 2018, Teruya’s retained earnings balance was $238,790. On March 1, 2019, Teruya sold its Marine Division. The tax rate for Teruya Corporation is 20 percent. There are 500,000 shares of common stock authorized, 250,000 issued, and 200,000 outstanding.

Required:

A. Prepare a multistep income statement for fiscal 2019.

B. Calculate the earnings per share for 2019.

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Sales Cost of goods sold Sales returns Depreciation on sales equipment Sales commissions Advertising expense Administrative salaries Depreciation on office equipment Bond interest expense Selling expenses Administrative expense Loss on disposal of marine division assets Marine products division operating income Dividend income Entertainment expense Dividends declared on preferred stock $1,950,000 1,231,600 41,000 6,500 103,000 $ 62,300 98,200 8,500 22,000 168,900 134,600 80,000 100,000 4,000 23,100 10,000