The following amounts were selected from the annual financial statements for Genesis Corporation at December 31, 2024 (end of the third year of operations):

Required:
Analyze the data on the 2024 financial statements of Genesis by answering the questions that follow. Show computations.
1. What was the gross margin on sales?
2. What was the amount of EPS?
3. If the income tax rate was 25 percent, what was the amount of pretax income?
4. What was the average sales price per share of the capital stock?
5. Assuming that no dividends were declared or paid during 2024, what was the beginning balance (January 1, 2024) of retained earnings?

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From the 2024 income statement: Sales revenue Cost of goods sold All other expenses (including income tax) Net income $ 275,000 (170,000) (95,000) $ 10,000