0 Holister Electric Inc. 29 Marks Income Statement For the Year Ended December 31, 2021 Sales Revenue $690,000 Less: Sales Retuns & Allowan 10,000 Sales Discount 8,000 18.000 Net Sales 672,000 Cost of Goods Sold 310.500 Gross Profit 361,500 176.300 185,200 Operating Expenses Depreciation Expense $25,000 Insurance Expense 2,000 Maintenance Expense 9,000 Professional Fees Expense 6,600 Rent Expense 38,000 Salaries Expense 75,000 Telephone Expense 4,000 Travel Expense 16.700 Total Operating Expenses Income from Operations Other Income and Expens Interest Expense 11,538 Interest Revenue 2,850 Revenue from Investment in G|160,000 Unrealized Gain on Fair Value 6.400 Income before tax Income Tax Expense-Contin Income from continuing operati Discontinued Operations Loss from Discontinued Opere 14,700 Income Tax Savings - Discont 4.410 Net Income 157.712 342,912 102,874 240,038 10.290 $229 748 4 Marks 0 Calculate the earnings per share for i) Income from Continuing Operations, ii) Net Income. 4 Marks 0 Prepare a statement of retained earnings at December 31, 2021. Round answers to the nearest whole number Holister Electric Inc. Statement of Retained Earnings For the Year Ended December 31, 2021 0 Holister Electric Inc. 29 Marks Income Statement For the Year Ended December 31, 2021 Sales Revenue $690,000 Less: Sales Retuns & Allowan 10,000 Sales Discount 8,000 18.000 Net Sales 672,000 Cost of Goods Sold 310.500 Gross Profit 361,500 176.300 185,200 Operating Expenses Depreciation Expense $25,000 Insurance Expense 2,000 Maintenance Expense 9,000 Professional Fees Expense 6,600 Rent Expense 38,000 Salaries Expense 75,000 Telephone Expense 4,000 Travel Expense 16.700 Total Operating Expenses Income from Operations Other Income and Expens Interest Expense 11,538 Interest Revenue 2,850 Revenue from Investment in G|160,000 Unrealized Gain on Fair Value 6.400 Income before tax Income Tax Expense-Contin Income from continuing operati Discontinued Operations Loss from Discontinued Opere 14,700 Income Tax Savings - Discont 4.410 Net Income 157.712 342,912 102,874 240,038 10.290 $229 748 4 Marks 0 Calculate the earnings per share for i) Income from Continuing Operations, ii) Net Income. 4 Marks 0 Prepare a statement of retained earnings at December 31, 2021. Round answers to the nearest whole number Holister Electric Inc. Statement of Retained Earnings For the Year Ended December 31, 2021