Answer:
Requirement
Prepare Income statement
Calculate the per share of common stock
               Windsor Inc.
Income statement for the year ended December 31, 2017
Sales                                $3,775,000
Less: Cost of goods sold                $1,648,000
Gross profit                           $2,127,000
Operating expenses
Selling expenses             $876,000
Administrative expenses      $507000
Total operative expenses                $1,383,000
Operative income                       $744,000
Other revenues and (expenses):
Rent revenue               $98000
Gain on sale of equipment     $31000
Interest expenses            ($57,000)     $72,000
Income before income taxes               $816,000
Income tax applicable to continuing         $297,000
operations
income from continuing operations          $519,000
Discontinued operations:
Loss on discontinued operations   ($66000)
Income tax applicable to loss on   ($23,000)
discontinued operations
Total discontinued operations               $89,000
Income before extraordinary item            $430,000
Extraordinary item:
Loss on write-down of inventory              ($37000)
Income after extraordinary item               $393,000
Other comprehensive income:
Unrealized gain on available-for-sale securities   $27,000
Comprehensive Income                      $420,000
EPS = Net Income of a company / Outstanding Shares
EPS = $420,000/200,000
EPS = $2.1 per share
