At the end of 2000, vandals destroyed your financial records. Fortunately, the controller had kept certain statistical data related to the income statement, as follows:

a.Cost of goods sold was $2,000,000.

b.Administrative expenses were 20% of the cost of sales but only 10% of sales.

c.Selling expenses were 150% of administrative expenses.

d.Bonds payable were $1,000,000, with an average interest rate of 11%.

e.The tax rate was 48%.

f.50,000 shares of common stock were outstanding for the entire year.

Required From the information given, reconstruct a multiple-step income statement for the year. Include earnings per share.