Metlock Corporation had net sales of $2409,200 and interest revenue of $38,100 during 2017. Expenses for 2017 were cost of goods sold $1,464,600, administrative expenses $212,400, selling expenses $284,000, and interest expense $54,400. Metlock's tax rate is 30%. The corporation had 110,000 shares of common stock authorized and 71.390 shares issued and outstanding during 2017. Prepare a condensed multiple-step income statement for Metlock Corporation. (Round earnings per share to 2 decimal places, es 148) METLOCK CORPORATION Income Statement For the Year Ended December 31, 2017 Net Sales 2409200 Interest Revenue 38100 Total Revenues 247300 Cost of Goods Sold 1464600 Selling Expenses 284000 O Net Income (Loss) 690700 Earnings Per Share
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