a. Classified (multiple step) income statement for the reporting year ended March 31, 2016. Include income tax expense, assuming a 25 % tax rate. Use the following subtotals: Gross Profit, Total Operating Expenses, Income from Operations, Income before Income Taxes, and Net Income and Show EPS.

Thanks! :)

JORDAN SALES COMPANY Trial Balance At March 31, 2016 Account Titles Debit Credit $ 58,000 49,000 1,000 34,000 $ 14,000 3,000 1,000 22,000 0 Cash Accounts receivable Office supplies inventory Automobiles (company cars) Accumulated depreciation, automobiles Office equipment Accumulated depreciation, office equipment Accounts payable Income taxes payable Salaries and commissions payable Note payable, long-term Capital stock (par $1; 33,000 shares) Paid-in capital Retained earnings (on April 1, 2015) Dividends declared and paid during the current year Sales revenue Cost of goods sold Operating expenses (detail omitted to conserve time) Depreciation expense (on autos and including $500 on office equipment) Interest expense Income tax expense (not yet computed) Totals 2,000 33,000 33,000 5,000 7,500 10,500 99,000 33,000 19,000 8,000 1,000 $216,500 $216,500