Clarksville Corporation’s capital structure consists of 50,000 shares of common stock. At Dec 31 201

Clarksville Corporation’s capital structure consists of 50,000 shares of common stock. At Dec 31 2014 an analysis of the accounts and discussions with company officials revealed the following info: Sales Revenue 1,700,000 Gain on sale of discontinued segment 56,000 Selling expenses 118,000 Cash 60,000 Accounts Receivable 90,000 Common stock 200,000 Cost of goods sold 791,000 Accum depreciation-machinery 180,000 Dividend revenue 9,000 Unearned service revenue 4,400 Interest payable 1,000 Land 370,000 Patents 100,000 Retained earnings, January 1, 2014 290,000 Interest expense 13,000 Administrative expenses 174,000 Dividends declared 24,000 Allowance for doubtful accounts 5,000 Notes Payable (maturity 7/1/17) 200,000 Machinery 450,000 Inventory 40,000 Accounts payable 60,000

The applicable income tax rate is 30% for all items.

Prepare a multiple step income statement for Clarksville, including earnings per share disclosures.

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