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Corporate Income Statement
Information about of Newcomb Corporation's income statement in 2009 follows:
Administrative expenses, $190,000Cost of goods sold $420,000Interest expense $20,000Net Sales $890,000Selling and administrative expenses, $190,000.
1) Prepare Newcomb Corporation's income statement for 2009, including earnings per share. Assume a weighted average of 100,000 shares of Common Stock outstanding for 2009.
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