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Required. Prepare a single-step income statement with basic earnings per share disclosure. Plano Co. Income Statement For the Year Ended December 31, 2013 Revenues and gains. Sales revenue Gain on sale of investments Interest revenue $700,000 110,000 60,000 870,000 500,000 150,000 60,000 Expenses Cost of goods sold Salaries and wages Marketing and administrative expenses Depreciation expense Interest expense Income tax expense Total expenses 40,000 30.000 27 000 807,000 $ 63.000 Net income Basic earnings per Share $126 Required. Prepare a single-step income statement with basic earnings per share disclosure. Plano Co. Income Statement For the Year Ended December 31, 2013 Revenues and gains: Sales revenue Gain on sale of investments Interest revenue $700,000 110,000 60,000 870,000 500,000 150,000 60.000 Expenses Cost of goods sold Salaries and wages Marketing and administrative expenses Depreciation expense Interest expense income tax expense Total expenses Net income 40 000 30 000 27.000 807.000 $ 63,000 Basic earnings per share $126