Compute earnings per share
Response to the following :
Return to the Fisher Fine Coffees data in problem. Fisher Fine Coffees had 10,000 shares of common stock outstanding during 2014. Fisher Fine Coffees declared and paid preferred dividends of $5,000 during 2014. Report Fisher Fine Coffees' earnings per share on the income statement. (Round all calculations to two decimal places.)
Problem:
Prepare a complex income statement
Fisher Fine Coffees, Inc., reported the following items, listed in no particular order, at December 31, 2014 (in thousands):
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Other gains (losses)..........
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$(19,000)
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Extraordinary gain........................
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$ 3,000
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Net sales revenue..............
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197,000
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Cost of goods sold...............
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73,000
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Loss on discontinued
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Operating expenses..............
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65,000
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operations..............................
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13,000
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Accounts receivable.............
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21,000
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Income tax of 35% applies to all items. Prepare Fisher Fine Coffees' multi-step income statement for the year ended December 31, 2014. Omit earnings per share.