Question

Income statement. Construct the Barron​ Pizza, Inc. income statement for the year ending 2015 with the following information ​(the dollar amounts are in thousands of dollars​): Shares outstanding: 16,600,000 Tax rate: 375% Interest expense: $6,000 Revenue: $889,413 Depreciation: $31,373 Selling, general, and administrative expense: $77,567 Other income: $1,244 Research and development: $4,095 Cost of goods sold: $750,631 Income Statement Barron Pizza, Incorporated Year Ending 2015 (thousands of dollars) 1 $2 $Gross proft $ 3 $4 $Operating income $ 6 $EBIT $7 $ Income before tax $8 $Net income $Shares outstanding $Earnings per share $

Answer 1

Explanation:

The construction of the income statement for the year ending 2015 is attached in the attachment. Kindly find it below:

As we know that the income statement records only the revenue and the expenses for the particular year

If the income is higher than the revenue, the company earns the net income otherwise it is a net loss and the same is to be reported on the statement of the stockholder equity

The earning per share is

= Net income ÷ Shares outstanding

and the same is shown in the attachment