The following is a partial trial balance for General Lighting Corporation as of December 31, 2013:
Account Title Debits Credits
- Sales revenue 2,800,000
- Rental revenue 89,000
- Loss on sale of investments 27,000
- Loss from flood damage 210,000
- Cost of goods sold 1,280,000
- Loss from write-down of inventory due to obsolescence 290,000
- Selling expenses 390,000
- General and administrative expenses 195,000
- Interest expense 88,000
200,000 shares of common stock were outstanding throughout 2013. Income tax expense has not yet been accrued. The income tax rate is 40%.
Prepare a single-step income statement for 2013, including EPS disclosures. (Amounts to be deducted should be indicated with a minus sign. Round EPS answers to 2 decimal places.)