Question - The following information is available for Enos Corporation for the year ended December 31, 2017:
Sales Revenue $800,000;
Other revenues and gains $92,000;
Operating expenses $110,000;
Cost of goods sold $495,000;
Other expenses and losses $32,000;
Preferred stock dividends $30,000.
The company's tax rate was 20%, and it had 50,000 shares outstanding during the entire year.
Instructions -
(a) Prepare a corporate income statement.
(b) Calculate earnings per share.