Question: Prepare in good form an income statement for Virginia Slim Wear. Take your calculations all the way to computing earnings per share. Sales $1,360,000 Shares

Prepare in good form an income statement for Virginia Slim Wear. Take your calculations all the way to computing earnings per share.
Sales $1,360,000
Shares outstanding 104,000
Cost of goods sold 700,000
Interest expense 34,000
Selling and administrative expense 49,000
Depreciation expense 23,000
Preferred stock dividends 86,000
Taxes 100,000

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