Sheridan Corporation had net sales of $2,418,800 and interest revenue of $32,500 during 2025. Expenses for 2025 were cost of goods sold $1,468,200, administrative expenses $218,400, selling expenses $283,300, and interest expense $51,000. Sheridan’s tax rate is 30%. The corporation had 101,000 shares of common stock authorized and 60,256 shares issued and outstanding during 2025. Prepare a single-step income statement for the year ended December 31, 2025. (Round earnings per share to 2 decimal places, e.g. 1.48.)

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TEAL CORPORATION Income statement For the year End... View the full answer