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From the following data for norton company for the year

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From the following data for Norton Company for the year ended December 31, 2012 prepare a multiple-step income statement. Show parenthetically earnings per share for the following: income from continuing operations, loss on discontinued operations (less applicable income tax), income before extraordinary item, extraordinary item , and net income.

Common stock, $50 par $200,000
Cost of merchandise sold 342,000
Administrative expenses 48,250
Income tax (applicable to continuing operations) 142,000
Interest expense 3,750
Loss on discontinued operations,
net of applicable tax of $2,700 5,400
Sales 865,000
Selling expenses 83,000
Uninsured flood loss, net of applicable
  income tax of $4,500 14,000

Reference no: EM13588434

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