General Electric reported the following for the fiscal year ending December 31, 2023:

Item	Amount ($)
Net Sales	350,000,000
Cost of Goods Sold	210,000,000
Operating Expenses	90,000,000
Interest Expense	7,000,000
Tax Expense	18,000,000
Dividends Paid	22,000,000
Beginning Retained Earnings	32,000,000

Requirements:

1. Prepare an Income Statement.
2. Calculate the Net Profit Margin.
3. Draft a Statement of Retained Earnings.
4. Determine the Earnings per Share with 180,000 shares outstanding.
5. Assess the impact of a 10% increase in sales revenue on net income.