Please fill in each blank accordingly. Thanks in advance

were outstanding durling the year. $($Round eamites per share answers to $2$ decimal places, $48.5\mathrm{.}75J$

PHAROAH UTMIIED

Income Strternent

SalaRsarue

Cart of Gaodr Sald

Graa Proft:

Operatingineams

Otrer Reveruer

Gin an Fardin Currens

Detrer Eigerase

Interer: Eqporus

Laer an Laan Betricrent:

Lea fram Flase ClamugeCurrent Attempt in Progress

Presented below is information that relates to Pharoah Limited for $2023$:

Collections of Accounts Receivable

Retained Earnings, January $1,2023$

Sales Revenue

Selling and Administrative Expenses

Loss from Flood Damage

Dividends

Cost of Goods Sold

Loss resulting from calculation error on depreciation charge in $2021($pre$-$tax$)$

Interest Revenue

Interest Expense

Loss on Loan Settlement $($Loss from early repayment, before tax$)$

Gain on Foreign Currency $($pre$-$tax$)$

$$1,177,000$

$856,000$

$2,033,000$

$310,300$

$374,500$

$36,380$

$1,177,000$

$492,200$

$192,600$

$128,400$

$363,800$

$235,400$

Additional information:

Early in $2023,$ Pharoah changed depreciation methods for its plant assets from the double$-$declining$-$balance to the straight$-$

line method. The affected assets were purchased at the beginning of $2018$ for $$214,000,$ had no residual value, and had useful

lives of $10$ years. Depreciation expense of $$21,400$ is included in the selling and administrative expenses of $$310,300.$

On September $1,2023,$ Pharoah sold one of its segments $($product line$)$ to Best Industries for a gain $($pre$-$tax$)$ of $$588,500.$

During the period January $1$ to August $31,$ the discontinued segment incurred an operating loss $($pre$-$tax$)$ of $$513,600.$ This

loss is not included in any of the numbers shown above.

Included in selling and administrative expenses are credit losses of $$20,330.$ Pharoah bases its credit losses upon a

percentage of sales. In $2021$ and $2022,$ the percentage was $0\mathrm{.}5\%.$ In $2023,$ the percentage was changed to $1\%.$

In good form, prepare a multiple$-$step income statement for $2023.$ Assume a $20\%$ income tax rate and that $17,120$ common shares

were outstanding during the year. $($Round earnings per share answers to $2$ decimal places, e$.$g$.5\mathrm{.}75.)$