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Jarvis Company Provided the Following Information for the Year Ending

Question 67

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Jarvis Company provided the following information for the year ending December 31, 2017:
 Cost of goods sold $400,000 Gain on sale of business segment 20,000 Income tax rate 30% Interest income 5,000 Interest expense 7,000 Loss from operation of discontinued business segment 12,000 Operating expenses 23,000 Revenue from sales 730,000 Number of shares of common stock outstanding 100,000\begin{array}{lr}\text { Cost of goods sold } & \$ 400,000 \\\text { Gain on sale of business segment } & 20,000 \\\text { Income tax rate } & 30 \% \\\text { Interest income } & 5,000 \\\text { Interest expense } & 7,000 \\\text { Loss from operation of discontinued business segment } & 12,000 \\\text { Operating expenses } & 23,000 \\\text { Revenue from sales } & 730,000 \\\text { Number of shares of common stock outstanding } & 100,000\end{array}
Prepare an income statement in good form. You may omit the heading. Include all earnings per share amounts required for the year ending December 31, 2017.

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