Concord Corporation had net sales revenue of $5,800,000 and investment revenue of $227,000 for the year ended December 31, 2020. Other items pertaining to 2020 were as follows:

Cost of goods sold		$4,630,000
Salaries and wages expense (sales)		421,000
Advertising expense		122,000
Entertainment expense		77,000
Selling expenses		620,000
Salaries and wages expense (administrative)		291,000
Rent expense		114,000
Utilities expense		43,000
Administrative expenses		448,000
Increase in value of company reputation		73,000
Unrealized gain on value of patents		35,000
Interest expense		159,000
Income tax expense		83,000

Concord has 100,000 common shares outstanding throughout the year.

a)Prepare a multiple-step income statement for Concord Corporation, showing expenses by function. Include calculation of EPS.

B) Assume the average market price for the common shares is $18.27. What is Concords price-earnings ratio? Price-earnings ratio is enter the Price earnings ratio .