Problem 4-1 (Part Level Submission) The following information is related to Carl

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Problem 4-1 (Part Level Submission) The following information is related to Carla Company for 2017 Retained earnings balance, January 1, 2017 Sales Revenue Cost of goods sold Interest revenue Selling and administrative expenses Write-off of goodwill Income taxes for 2017 Gain on the sale of investments Loss due to flood damage Loss on the disposition of the wholesale division (net of tax) Loss on operations of the wholesale division (net of tax) Dividends declared on common stock Dividends declared on preferred stock $987,390 26,291,200 16,224,500 80,700 4,727,900 840,500 1,291,400 111,700 395,200 448,300 96,870 253,400 84,400 Carla Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its operations. On September 15, Carla sold the wholesale operations to Rogers Company, During 2017, there were 538,800 shares of common sto outstanding all year (a1) Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.49.) CARLA COMPANY Income Statement nse Agreement I Privacy Policy 2000-2018 lohn

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CARLA COMPANY Income Statement for the year ended 31 december, 2017 Sales revenue $ 26,291,200 cost of goods sold $ 16,224,500 gross profit $ 10,066,700 selling and administrative expenses $    4,727,900 income from operations $    5,338,800 other revenues and gains interest revenue $    80,700 Gain on the sale of investment $ 111,700 $        192,400 $    5,531,200 other expenses and losses Write off of goodwill $ 840,500 Loss from flood damage $ 395,200 $    1,235,700 Income from continuing operation before tax $    4,295,500 income taxes $    1,291,400 Income from continuing operation $    3,004,100 Discontinued operations loss on Disposal of the whole sale division (net of tax) $ 448,300 loss on operations of the whole sale division (net of tax) $    96,870 $        545,170 net income $    2,458,930 Earning per common shares Income from continuing operations ($3,004,100/538,800) $               5.58 Discontinued operations loss on operations of the whole sale division (net of tax) ($96,870/538,800) $      (0.83) Loss on operations ($90,320 / 511,000) $      (0.18) $            (1.01) Net income / (loss) $               4.56

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