Data for the Year Ended December 31, 2023:

Sales revenue: $10,000,000

Cost of goods sold: $6,000,000

Selling expenses: $1,500,000

Administrative expenses: $1,300,000

Interest expense: $220,000

Dividend revenue: $70,000

Income tax expense: $900,000

Preferred stock dividends: $50,000

Preferred stock: $600,000

Common stock: $3,500,000

Retained earnings, Jan 1, 2023: $1,000,000

Instructions:

Prepare a multi-step income statement. (b) Calculate the earnings per share. (c) Prepare a retained earnings statement. (d) Compute the return on assets. (e) Calculate the current ratio.