Income Statement (LO1) Frantic Fast Foods had earnings after taxes of $420,000 in the year 2012 with 309,000 shares outstanding. On January 1, 2013, the firm issued 20,000 new shares. Because of the proceeds from these new shares and other operating improvements, earnings after taxes increased by 30 percent. Compute earnings per share for the year 2012. Compute earnings per share for the year 2013. a. Gross profit (LO1) Hillary Swank Clothiers had sales of $383,000 and cost of goods sold of S260.000. What is the gross profit margin (ratio of gross profit to sales)? If the average firm in the clothing industry had a gross profit of 25 percent, how is the firm doing? Operating profit (LOl) A-Rod Fishing Supplies had sales of $2, 500,000 and cost of goods sold of $1, 710,000. Selling and administrative expenses represented 10 percent of sales. Depreciation was 6 percent of the total assets of $4, 680,000. What was the firm's operating profit