Acc280 Financial Accounting: E14-12 The following information is available for Patel Corporation

Acc280 Financial Accounting
E14-12
The following information is available for Patel Corporation for the year ended December 31, 2010: Sales $800,000; Other revenues and gains $92,000; Operating expenses $110,000; Cost of goods sold $465,000; 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. Complete the corporate income statement. (Enter all amounts as positive and subtract where necessary.)
b. Calculate earnings per share. (Round answer to 2 decimal places, e.g. 10.50.)
Powered by