Financial Information:

Sales revenue: $4,200,000

Cost of goods sold: $2,500,000

Selling expenses: $500,000

Administrative expenses: $600,000

Interest expense: $80,000

Dividend revenue: $60,000

Income tax expense: $400,000

Preferred stock dividends: $25,000

Preferred stock: $300,000

Common stock: $1,200,000

Retained earnings, Jan 1, 2023: $900,000

Instructions:

Prepare a multi-step income statement.

Compute the earnings per share.

Prepare a retained earnings statement.

Calculate the times interest earned ratio.

Prepare a cash flow statement.