The Hooper Book Company’s accounting records include the following for 2021 (in thousands):

Requirements

1. Prepare Hooper Book Company’s single-step income statement for the year ended December 31, 2021, including earnings per share (EPS). Hooper had 1,000,000 shares of common stock and no preferred stock outstanding during the year.

2. Assume Hooper Book Company’s income from operations indicates that its core business has steadily increased by about 10% per year over the past three years and that none of its operations have been discontinued. What does this say about the quality of the company’s earnings?

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Other revenues..... Income tax expense. Sales revenue. Total operating expenses..... $ 1,600 5,640 122,000 104,800