Prepare an Income Statement and Compute Earnings Per Share for Wade Furniture Company utilizing Excel (preferred) or Word then upload the document. Wade Furniture Company has the following financial data.
Please complete the following:
1. Prepare an Income Statement
2. Compute Earnings Per Share (See the Lectureto assist you with format)
|
Sales
|
$1,500,000
|
|
Depreciation Expense
|
50,000
|
|
Cost of Goods Sold
|
900,000
|
|
Interest Expense
|
20,000
|
|
Selling and Administrative Expense
|
150,000
|
|
Taxes
|
125,000
|
|
Preferred Stock Dividends
|
10,000
|
|
Common Shares Outstanding
|
50,000
|