Simple Income Statement

The following are selected items derived from Dibb Company's adjusted trial balance on December 31, 2016:

Loss on sale of land	$4,400
Cost of goods sold	$177,000
Sales (net)	$239,600
Operating expenses	$41,400

12,000 shares of common stock were outstanding the entire year.

Required:

Assuming a 30% income tax rate on all items of income, prepare a 2016 income statement for Dibb's Company using a multiple-step format. Round earnings per share computations to two decimal places.

DIBB Company
Income Statement (Multiple-Step)
For Year Ended December 31, 2016
	$
	$
	$
Other items
Income before income tax	$
	$
Components of Income	EPS
	$

Assuming a 30% income tax rate on all items of income, prepare a 2016 income statement for Dibb's Company using a single-step format. Round earnings per share computations to two decimal places.

DIBB Company
Income Statement (Single-Step)
For Year Ended December 31, 2016
Revenues
		$
Expenses
	$
Total expenses
		$
Components of Income		EPS
		$