Intel Corporation has the following financial data as of December 31, 2023:

Item	Amount ($)
Sales Revenue	600,000,000
Cost of Goods Sold	360,000,000
Operating Expenses	120,000,000
Interest Expense	9,000,000
Income Tax Expense	24,000,000
Dividends Paid	28,000,000
Beginning Retained Earnings	40,000,000

Requirements:

1. Prepare an Income Statement.
2. Calculate the Gross Profit.
3. Draft a Statement of Retained Earnings.
4. Determine the Earnings per Share with 300,000 shares outstanding.
5. Assess the impact of a 5% increase in cost of goods sold on net income.