E5-8 (Static) Preparing a Classified (Multiple-Step) Income Statement and Computing the Gross Profit Percentage L05-3 The following data were taken from the records of Township Corporation at Decembar 1 of the current year BOOM $85,000 30,000 7.000 Sales revenue Gross profit Selling (distribution) expense Administrative expense Pretax income Income tax rate Shares of stock cutstanding 13,000 30% 2,500 CE Required: 1. Prepare a complete classified multiple-stepl income statement for the company showing both gross profit and income from operations). (Round "Eumings per share" to 2 decimal places.) TOWNSHIP CORPORATION Income Statement Operating expenses Total operating expenses 0 Eaming per share