Facebook Inc. disclosed the following for the financial year ending October 31, 2023:

Item	Amount ($)
Revenue	55,000,000
Cost of Sales	35,000,000
Administrative Expenses	10,000,000
Depreciation Expense	2,500,000
Interest Expense	2,000,000
Income Tax Expense	3,500,000
Dividends Paid	4,000,000
Beginning Retained Earnings	9,000,000

Requirements:

1. Prepare an income statement.
2. Determine the operating income.
3. Draft a statement of retained earnings.
4. Calculate the earnings per share assuming 80,000 shares.
5. Evaluate the effect of a 15% increase in revenue on net income.