31. 3M Company has provided you with the following details for the year 2023: revenue $16,000,000, cost of goods sold $9,600,000, operating expenses $4,800,000, interest expense $600,000, tax expense $800,000, and dividends paid $400,000. Prepare the income statement, calculate the earnings per share (EPS), and prepare the statement of retained earnings. Discuss the company’s ability to generate profits and distribute dividends based on the financial statements.