Return to the Gala Fruit Corp. data in Starter 14-10. Gala Fruit had 10,000 common shares outstanding on January 1, 2017. Gala Fruit declared and paid preferred dividends of $1,500 during 2017. In addition, Gala Fruit paid a 20 percent common stock dividend on June 30.
In Starter 14-10
Other gains (losses) .......................................... $(12,500)
Cost of goods sold ........................................... 35,000
Gain on discontinued operations ...................... 8,500
Accounts receivable ........................................ 9,500
Net sales revenue ............................................. $100,000
Operating expenses ........................................... 30,000
Show how Gala Fruit Corp. reported EPS data on its 2017 income statement.