Preparing a Single-Step and a Multiple-Step Income Statement Lewis Company's records show the following information at...

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Preparing a Single-Step and a Multiple-Step Income Statement Lewis Company's records show the following information at December 31, its annual year-end. Sales revenue $152,000 Service revenue* 56,000 Gain on sale of short-term investments 17,600 Selling expense 28,800 General and administrative expense 19,200 Depreciation expense (administrative) 9,600 Interest expense 6,400 Earthquake loss on building 24,000 Loss on sale of warehouse* 4,800 Cost of goods sold 72,000 Common stock shares outstanding 10,000 Income tax rate 25% *Loss on sale of warehouse and the service revenue are nonoperating. Part A Part B b. Prepare a multiple-step income statement (including earnings per share). Note: Use a negative sign only for an expense or loss item included in the section Other Revenues (Expenses). Note: Enter the answer for earnings per share in dollars and cents, rounded to the nearest penny. Lewis Company Income Statement For the Year Ended December 31 Sales revenue Cost of goods sold Gross profit > > > $ 152,000 72,000 80,000 Operating expenses Selling expense General and administrative expenses Operating income Other revenues (expenses) Service revenue Gain on sale of short-term investments Earthquake loss on building Interest expense Loss on sale of warehouse Income before income taxes Income tax expense Net income Earnings per share $ 0 > > > 28,800 28,800 22,400 > >> > > > > > $ 56,000 17,600 24,000 x 6,400 x 4,800 x 0x 0 x 0 x Preparing a Single-Step and a Multiple-Step Income Statement Lewis Company's records show the following information at December 31, its annual year-end. Sales revenue $152,000 Service revenue* 56,000 Gain on sale of short-term investments 17,600 Selling expense 28,800 General and administrative expense 19,200 Depreciation expense (administrative) 9,600 Interest expense 6,400 Earthquake loss on building 24,000 Loss on sale of warehouse* 4,800 Cost of goods sold 72,000 Common stock shares outstanding 10,000 Income tax rate 25% *Loss on sale of warehouse and the service revenue are nonoperating. Part A Part B b. Prepare a multiple-step income statement (including earnings per share). Note: Use a negative sign only for an expense or loss item included in the section Other Revenues (Expenses). Note: Enter the answer for earnings per share in dollars and cents, rounded to the nearest penny. Lewis Company Income Statement For the Year Ended December 31 Sales revenue Cost of goods sold Gross profit > > > $ 152,000 72,000 80,000 Operating expenses Selling expense General and administrative expenses Operating income Other revenues (expenses) Service revenue Gain on sale of short-term investments Earthquake loss on building Interest expense Loss on sale of warehouse Income before income taxes Income tax expense Net income Earnings per share $ 0 > > > 28,800 28,800 22,400 > >> > > > > > $ 56,000 17,600 24,000 x 6,400 x 4,800 x 0x 0 x 0 x