The following summarized data relate to Bowden Corporation's current operations:

Earnings per Share and Multiple-Step Income Statement The following summarized data relate to Bowden Corporation's current operations: Sales revenue $760,000 Cost of goods sold 450,000 Selling expenses 65,000 Administrative expenses 72,000 {considered unusual and infrequent) Loss on sale of equipment 5,000 Income tax expense [not allocated) 42.000 Shares of common stock Outstanding atjanuary1 20,000 shares Additional issued at May'l 7,000 shares Additional issued at November 1 2,000 shares Required Prepare a multipieestep income statement for Bowden Corporation for the year. Assume a 25 percent income tax rate. Allocate income tax expense within the income statement. Include earnings per share disclosure at the bottom ofthe income statement. BOWDEN CORPORAHON Income Statement For the Year Ended December 31 Sales Revenue $ 0 Cost of Goods Sold 0 Gross Profit on Sales Selling Expenses Administrative Expenses Operating income Loss on Sale of Equipment Income before Taxes income Tax Expense Net Income Earnings per share of Common Stock