Pfizer Inc. disclosed the following financial data for the year ending December 31, 2023:

Financial Data	Amount ($)
Net Sales	105,000,000
Cost of Goods Sold	70,000,000
Administrative Expenses	20,000,000
Depreciation Expense	5,000,000
Interest Expense	3,500,000
Income Tax Expense	7,000,000
Dividends Paid	8,500,000
Beginning Retained Earnings	25,000,000

Requirements:

1. Prepare an income statement.
2. Calculate the gross profit margin.
3. Draft a statement of retained earnings.
4. Determine the earnings per share with 400,000 shares outstanding.
5. Evaluate the effects of a 15% increase in net sales on net income.