Given the following information for Macro Drive Inc.

	2017
Selling and administrative expenses	150,000
Depreciation expense	280,000
Interest expense	140,000
Sales	1,400,000
Taxes	135,500
Cost of Goods Sold	500,000

1. Prepare (in good form) an income statement for 2017 for Macro Drive Inc
2. Assume that Micro Drive Inc. has 50,000 shares outstanding, calculate the Earnings Per Share for the company for the period ending 2017
3. Differentiate between accounting income and free cash flow. Why is FCF the most important measure of cash flow?