4-11. (Analyzing profitability) (Related to Checkpoint 4.3 on page 129) Last year the P. M. Postem Corporation had sales of $400,000, with a cost of goods sold of $112,000. The firm's operating expenses were $130,000, and its increase in retained earnings was $58,000. There are currently 22,000 shares of common stock outstanding the firm pays a $1.60 dividend per share, and the firm has no interest-bearing debt. a. Assuming the firm's earnings are taxed at 35 percent, construct the firm's income statement