2. What is the Earning Per Share? B A 1 Earning Per Share Inventory Equipment The Chief Financial Officer of Kanton Manufacturing Limited ("Kanton") has asked you to prepare the following financial statements for the year ended December 31, 2021. Kanton is a public company and follows the International Financial Reporting Standards (IFRS) and is subject to an income tax rate of 30%. Account Titles DR CR Cash " 120,000 Accounts Receivable 85,000 100,000 Prepaid expense 25,000 Investment (Long-term) 140,000 285,000 Accumulated Depreciation, 171,000 quipment Building 860,000 ung Accumulated Depreciation, Building 301,000 Land 450.000 Salaries Payable cuanto 130,000 Interest Payable le 84,000 Mortgage (Due in 15 years) note 1 750,000 Share Capital (65,800 shares) 204,000 Retained Earnings, Jan. 1, 2021 220,000 Dividends 30,000 Sales sales 1,250,000 COST Cost of Goods Sold 500.000 Depreciation Expense 72.000 Interest Expense 30,000 Maintenance Expense 53,000 Other Operating Expenses 120,000 Salary Expense 240,000 Totals 3,110,000 3,110,000 3. Prepare a statement of Changes in Retained Earnings for the year ended December 31, 2021. Kanton Manufacturing Ltd. Statement of Changes in Retained Earnings For Year Ended December 31, 2021 Note 1: Kanton is required to make 15 equal annual repayment on the mortgage. Required 1. Prepare a statement of Earnings for the year ended December 31, 2021. Kanton Manufacturing Ltd. Statement of Earnings For the year ended December 31, 2021 Sales: 4. Prepared the Current Liabilities section of a classified Statement of Financial Position as of December 31, 2021. Kanton Manufacturing Ltd. Partial Statement of Financial Position (Current Liabilities) December 31, 2021 Current Liabilities Operating Expenses: Total Operating Expenses $ 0 Total Current Liabilities $ 0