Shown as follows are data relating to the operations of Beach, Inc., during 2021.

Instructions.
a. Prepare a condensed income statement for 2021, including earnings per share statistics. Beach, Inc., had 800,000 shares of $1 par value common stock and 100,000 shares of $6, $100 par value preferred stock outstanding throughout the year.
b. Prepare a statement of retained earnings for the year ended December 31, 2021. As originally reported, retained earnings at December 31, 2020, amounted to $10,700,000.
c. Compute the amount of cash dividend per share of common stock declared by the board of directors for 2021. Assume no dividends in arrears on the preferred stock.
d. Assume that 2022 earnings per share is a single figure and amounts to $15. Assume also that there are no changes in outstanding common or preferred stock in 2022. Do you consider the $15 earnings per share figure in 2022 to be a favorable or unfavorable statistic in comparison with 2021 performance? Explain.

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Continuing operations: Net sales Costs and expenses (including applicable income taxes).. Other data: Operating income during 2021 on segment of the business discontinued near year-end (net of income taxes) ..... Loss on disposal of discontinued segment (net of income tax benefit) ..... Prior period adjustment (increase in 2020 amortization expense, net of income tax benefit) .... Cash dividends declared $37,400,000 21,500,000 205,000 510,000 310,000 2,000,000