Question: Prepare an income statement using the following data for High School Learning Co.for the year ended December 31, 2017: Remember to SHOW Earnings Per Share

Prepare an income statement using the following data for High School Learning Co.for the year ended December 31, 2017: Remember to SHOW Earnings Per Share from EACH SEGMENT Sales Cost of merchandise sold $24,500,000 10,900,000 Operating expenses 6,300,000 Losses from asset impairment 2,800,000 Income tax expense 40% Loss on discontinued operations (before taxes) 500,000 Income from sale of discontinued segment (before taxes) 200,000 Dividend Income from investments 125,000 Interest on loan taken 60,000 Common stock outstanding ($2 par) 400,000 Authorised share capital ($2 par) 1,000,000 20 x = 10

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