The trial balance of James Inc. included The trial balance of James Inc. included the following accounts as of December 31, 2015: Debits Credits Sales Revenue 4,700,000 Interest Revenue 20,000 Loss on sale of investments 20,000 Unrealized losses of investments 150,000 Foreign currency translation gains 300,000 Cost of goods sold 3,300,000 Selling expenses 300,000 Restructuring costs 180,000 Interest expense 20,000 General and administrative expenses 340,000 James had 100,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 30%. Required: Prepare a 2015 single-step income statement for James Inc. with basic earnings per share disclosure.
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