Financial Data for the Year Ended December 31, 2023:

Sales revenue: $3,800,000

Cost of goods sold: $2,200,000

Operating expenses: $800,000

Interest expense: $70,000

Dividends declared: $50,000

Income tax expense: $150,000

Preferred stock: $300,000

Common stock: $1,500,000

Retained earnings, January 1, 2023: $250,000

Requirements:

Prepare a multi-step income statement.

Calculate the earnings per share.

Prepare a statement of retained earnings.

Prepare a balance sheet as of December 31, 2023.

Compute the debt to equity ratio.