Newcastle Enterprises had net income for 2018 of $103,000. Newcastle had 36,000 shares of common stock outstanding at the beginning of the year and 48,000 shares of common stock outstanding at the end of the year. There were 9,000 shares of preferred stock outstanding all year. During 2018, Newcastle declared and paid preferred dividends of $30,000. What is Newcastle's earnings per share?

Cherokee inc. is a merchandiser that provided the following information: amount number of units sold 20,000 selling price per unit $ 30 variable selling expense per unit $ 4 variable administrative expense per unit $ 2 total fixed selling expense $ 40,000 total fixed administrative expense $ 30,000 beginning merchandise inventory $ 24,000 ending merchandise inventory $ 44,000 merchandise purchases $ 180,000 required: 1. prepare a traditional income statement. 2. prepare a contribution format income statement.