Problem 127 Presented below is an income statement for Kinder Company for the year ended December 31, 2014 Kinder Company Income Statement For the Year Ended December 31, 2014 Net sales Costs and expenses: $763,430 Cost of goods sold Selling, general, and administrative expenses Other, net 569,700 65,740 26,480 661,920 101,510 30,453 $71,057 Total costs and expenses Income before income taxes Income taxes Net income Additional information: "Selling, general, and administrative expenses" included a usual but infrequent charge of $6,330 due to a loss on the sale of investments "Other, net" consisted of interest expense, $10,660, and an extraordinary loss of $15,820 before taxes due to earthquake damage. If the extraordinary loss had not occurred, income taxes for 2014 would have been $35,199 instead of $30,453 Kinder had 20,000 shares of common stock outstanding during 2014 1. 2. 3. Using the single-step format, prepare a corrected income statement, including the appropriate per share disclosures. (Round earnings per share to 2 decimal places, e.g. $1.48.)