make a income statement

10 The income statement for Weatherford International Inc.'s year ended December 31, 2020, was prepared by an inexperienced bookkeeper. As the new accountant, your immediate priority is to correct the statement. All amounts included in the statement are before tax (assume a rate of 40%). The company had 107,000 common shares issued and outstanding throughout the year, as well as 21,400 shares of $1.20 cumulative preferred shares issued and outstanding. Retained earnings at December 31, 2019, were $332,300. Weatherford International Inc. Income Statement December 31, 2020 Revenues : 35 Sales Gain on sale of equipment $1, 169, 500 Interest income 15, 100 Gain on sale of plant 6, 860 142, 300 Operating profit on discontinued operation 29, 390 $1, 363, 150 Expenses : Cost of goods sold $ 355, 000 Selling and administrative expenses 183, 500 Sales discounts 12, 110 Loss on sale of discontinued operation 36, 700 Dividends 127, 000 714, 310 Profit 648, 840 Earnings per share 6.06 Required: Prepare a corrected income statement, including earnings per share information. (Negative answers should be indicated by a minus sign in the other revenues and expenses section and the discontinued operations section. Round the "Earnings per Share" answers to 2 decimal places.)