Presented below is an income statement for Kinder Company for the year ended December 31, 2014.
Kinder Company
Income Statement
For the Year Ended December 31, 2014
Net sales.................................................................................$800,000
Costs and expenses:
Cost of goods sold..................................................................560,000
Selling, general, and administrative expenses..........................70,000
Other, net..................................................................................30,000
Total costs and expenses........................................................660,000
Income before income taxes...................................................140,000
Income taxes.............................................................................42,000
Net income..............................................................................$98,000
Additional information:
1. "Selling, general, and administrative expenses" included a usual but infrequent charge of $7,000 due to a loss on the sale of investments.
2. "Other, net" consisted of interest expense, $10,000, and an extraordinary loss of $20,000 before taxes due to earthquake damage. If the extraordinary loss had not occurred, income taxes for 2014 would have been $48,000 instead of $42,000.
3. Kinder had 20,000 shares of common stock outstanding during 2014.
Instructions
Using the single-step format, prepare a corrected income statement, including the appropriate per share disclosures.
Two income statement formats

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Candy Store Co. Income Statement Candy Store Co. For the year ended December 31, Income Statement For the year ended December 31, 20X1 Revenues: 2$ Sales Revenue 100 $ 100 Sales Revenue Less: Cost of Goods Sold 30 Rent Revenue 2 Gross Margin 70 $ 102 Total Revenues Operating Expenses: Expenses: Wages Expense 20 Cost of Goods Sold 30 Rent Expense Utilities Expense Wages Expense Rent Expense 20 Advertising Expense Operating Income 1. 41 Utilities Expense Advertising Expense Other Revenues and Expenses: Income Tax Expense 10 Rent Revenue 2. $ 69 $ 33 Total Expenses Income Before Taxes 43 Net Income Income Tax Expense 10 Net Income 33 Earnings Per Share 0.033 %24 %24