Shown below is an income statement for 2014 that was prepared by a poorly trained bookkeeper of ABC Company.

ABC Company

INCOME STATEMENT

December 31, 2014

Sales revenue $ 1,845,000

Investment revenue 69,500

Cost of goods sold (950,500)

Selling expenses (345,000)

Administrative expenses (295,000)

Interest expense (73,000)

Special items

Loss on disposal of a component of the business (30,000)

Major casualty loss (extraordinary item) (50,000)

Net income tax expense (51,300)

Net income $ 119,700

Prepare a multiple-step income statement for 2014 for this company that is presented in accordance with generally accepted accounting principles (including format and terminology).

ABC Company has 50,000 shares of common stock outstanding and has a 30% federal income tax rate on all tax related items.

Round all earnings per share figures to the nearest cent.