Given is the Income Statement for the year ended December 31, 2015, Statement of Retained Earnings for the year ended December 31, 2015 and Comparative Balance Sheets for 2014 and 2015 of Maris Corporation Maris Corporation Income Statement Year Ended December 31, 2015 Sales Cost of goods sold $6,000,000 4,150,000 Gross profits Selling and administrative expense Amortization expense 1,850,000 760,000 280,000 810,000 55,000 Operating income Interest expense Earnings before taxes 755,000 380,000 Taxes Earnings after taxes Preferred stock dividends Earnings available to common shareholders Shares outstanding 375,000 30,000 S345,000 143,750 $2.40 Earnings per share Statement of Retained Earnings For the Year Ended December 31, 2015 Retained earnings, balance, January 1, 2015 Add: Earnings available to common shareholders, 2015 Deduct: Cash dividends declared and paid in 2015 $920,000 345,000 150,000 Retained earnings, balance, December 31, 2015 $1,115,000