Prepare a single-step income statement with basic earnings per share disclosure
Plaza Co. 31/12/19 Partial
Debits Credits
Sales revenue 700,000
Interest revenue 60,000
Gain on sale of investments 110,000
Cost of goods sold 500,000
Salaries and wages 150,000
Interest expense 30,000
Marketing and administrative expenses 60,000
Plaza had 50,000 shares outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 30%
Required: Prepare a single-step income statement with basic earnings per share disclosure.
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