The following information was taken from the records of Crowley Cosmetics, Inc., at December 31, 2012:

Requirements
1. Prepare Crowley Cosmetics€™ single-step income statement, which lists all revenues together and all expenses together, for the fiscal year ended December 31, 2012. Include earnings-per-share data.
2. Evaluate income for the year ended December 31, 2012. Crowley€™s top managers hoped to earn income from continuing operations equal to 13% ofsales.

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Dividends on common stock26,000 23,000 7,000 13,000 Prior-period adjustment- debit to Retained Earnings... 7,000 Ierest e Income tax expense (savings): Gain on lawsuit settlement... Dividend revenue... Treasury stock, common Continuing operations2 Income from discontinued operations. Extraordinary loss. 5,600 11,000 14,000 (3,000 shares at cost.15,000 71,900 540,000 (11,570) General expenses.... OSS Loss on sale of plant asset Income from discontinued Sales revenue Retained earnings, beginning as originally reported..196,000 82,000 operations.. Preferred stock, 890, $30 par, Selling expenses 3,000 shares issued... 90,000 Common stock, no par 29,000 Cost of goods soid..304,000 Extraordinary loss.. 24,000 shares authorized and issued 360,000