ASSIGNMENT RESOURCES vanhoe Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income statement for 2015 and 2016 follow. Comparative Balance Sheet Review Results bv Stud 390,000 417400 Accounts receivable, net Inventory Other curreet assets 1,067,200 744,000 681,100 247,100 2,584,200 2,122,000 8,697,325 8,440,415 11,281,525 $10,562.415 Total current assets Property, plant, &equipment, net Total assets Liabilities and Stockholders Equity Cunrent Eabiities Long-term debt 3,155,000 $2,846,000 3,702,650 3,892,650 6,857,650 6,738,650 8,700 103,850 ,217,175 3,661,215 4,423,875 3,823,765 Total liabilities and stockholders' equity $11,281,525 10,562,415 Total liabilities Preferred stock, $5 par value Common stock, $0.25 par value Retained earnings 58,700 148,000 Total stockholders equity SOURCES Ivanhoe Medical Comparative Income Statement and Statement of Retained Earnings For the Year ework 2016 2015 Sales revenue (all on account) Cost of goods sold Gross profit Operating expenses Net operating income Interest expense Net income before taxes Income taxes (30%) Net income Dividends paid $10,040,000 $9,613,950 5,298,800 4,315,150 2,634,100 1,681,050 308,600 1,372,450 411,735 $960,715 5,384,000 4,656,000 2,840,200 1,815,800 368,000 1,447,800 434,340 $1,013,460 by Study Preferred dividends Common dividends Total dividends paid Net income retained 29,500 447,000 476,500 484,215 3,177,000 $4,217,175 $3,661,215 29,500 428,000 457,500 555,960 3,661,215 Retained earnings, beginning of year Retained earnings, end of year la) Calculate the earnings per share (average of 395,000 shares outstanding for the year) for 2016. (Round ansiwer to 2 decimal places, e.g. 2.55 Earning per share per share Click if you would like to Show Work for this question: Qn Show wack