Response to the following problem:
Presented below is information related to Brokaw Corp. for the year 2010.
Net sales $1,200,000
Write-off inventory due to obsolescence $80,000
Cost of goods sold 780,000
Depreciation expense omitted by accident in 2009 40,000
Selling expenses 65,000
Interest expense 50,000
Administrative expenses 48,000
Cash dividends declared 45,000
Dividend revenue 20,000
Retained earnings at December 31, 2009 980,000
Interest revenue 7,000
Effective tax rate of 34% on all items
(a) Prepare a multiple-step income statement for 2010. Assume that 60,000 ordinary shares are outstanding.
(Round earnings per share 2 decimal places, e.g. 5.25 and all other answers to zero decimal places, e.g. 2,250. Enter all amounts as positive amounts and subtract where necessary. List multiple entries from largest to smallest amount, e.g. 10, 5, 2.)