Jarvis Company Provided the Following Information for the Year Ending

question 15

Essay

Jarvis Company provided the following information for the year ending December 31, 2017:
$\begin{array}{lr}\text { Cost of goods sold } & \$ 400,000 \\\text { Gain on sale of business segment } & 20,000 \\\text { Income tax rate } & 30 \% \\\text { Interest income } & 5,000 \\\text { Interest expense } & 7,000 \\\text { Loss from operation of discontinued business segment } & 12,000 \\\text { Operating expenses } & 23,000 \\\text { Revenue from sales } & 730,000 \\\text { Number of shares of common stock outstanding } & 100,000\end{array}$
Prepare an income statement in good form. You may omit the heading. Include all earnings per share amounts required for the year ending December 31, 2017.

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Definitions:

Months of Age

A measurement of age used particularly in the context of very young children, expressing how many months old they are.

Sitting Up

The physical action of moving from a lying or slouching position to an upright posture, often indicating readiness or alertness.

Object Permanence

The understanding that objects continue to exist even when they cannot be observed, a concept developed during infancy.

Peek-a-Boo

A game played with young children involving hiding and suddenly reappearing, aiming to invoke surprise and delight.