Ninatori Fashion Designs Corp. is preparing its 2017 GAAP financial statements. Presented below is th income statement for the year ended December 31, 2017, the statement of equity for the year ende December 31, 2017, the statement of financial position at December 31, 2017 and 2016 and othe information extracted from its accounting records. Ninatori Fashion Designs Corp. Income Statement For the Year ended December 31, 2017 Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses: $6,750,000 2.540.000 370,600 872 500 243.100 1,296,900 Selling General and Administrative Total Operating Expenses Operating Profit Nonoperating Items: Interest Expense Gain on Sale of Land Loss on Sale of Used Equipment (70,000) 75,000 15000) 1,286,900 422000 Earnings before Taxes Income Tax Expense Net Earnings Per Share of Common: Earnings per Share $3.33 Cash Dividends per Share $1.30