Details for the Year Ended December 31, 2023:

Sales revenue: $7,200,000

Cost of goods sold: $3,900,000

Selling expenses: $1,100,000

Administrative expenses: $1,200,000

Interest expense: $160,000

Dividend revenue: $50,000

Income tax expense: $600,000

Preferred stock dividends: $30,000

Preferred stock: $350,000

Common stock: $2,200,000

Retained earnings, Jan 1, 2023: $700,000

Instructions:

Prepare a single-step income statement.

Calculate the earnings per share.

Prepare a retained earnings statement.

Compute the current ratio.

Determine the net profit margin.