Monty corporation had net sales revenue of $9,652,500 and investment revenue of $374,550 during 2017. Expenses for 2017 were cost of goods sold $1,455,200, administrative expenses $216,400, selling expenses $288,900, and interest expense $49,100. Monty’s tax rate is 30%. The corporation had 104,200 shares of common stock authorized and 74,310 shares issued and outstanding during 2017. Prepare a single-step income statement for the year ended December 31, 2017. (Round earnings per share to 2 decimal places, e.g. 1.48.)

Answer rating: 100% (QA)

Solution Whispering Corporation Income statement Revenues Net sales Interest revenue ... View the full answer