Details from Pfizer Inc.:

For the year ended December 31, 2023:

Sales revenue: $12,000,000

Cost of goods sold: $8,000,000

Selling expenses: $2,000,000

Administrative expenses: $1,500,000

Interest expense: $300,000

Dividend revenue: $90,000

Income tax expense: $1,200,000

Preferred stock dividends: $70,000

Preferred stock: $800,000

Common stock: $4,500,000

Retained earnings, Jan 1, 2023: $1,800,000

Instructions:

Prepare a multi-step income statement. (b) Calculate the earnings per share. (c) Prepare a retained earnings statement. (d) Prepare a balance sheet as of December 31, 2023. (e) Calculate the return on equity.