Please help me figure these out! thank you!

The following income statement was prepared by a new and inexperienced employee in the accounting department of Dexter, Inc., a business organized as a corporation. DEXTER, INC. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2018 Net sales Gain on sale of treasury stock Excess of issuance price over par value of capital stock $10,200,000 56,000 710,000 190,000 $11,156,000 Prior period adjustment (net of income tax) Total revenue Less: Cost of goods sold $4,000,000 1,050,000 Selling expenses Selling expenses General and administrative expenses Loss from settlement of litigation 1,050,000 840,000 10,000 612,000 180,000 Income tax on continuing operations Operating loss on discontinued operations (net of income tax benefit) 240,000 Loss on disposal of discontinued operations (net of income tax benefit) 300.000 Dividends declared on common stock Total costs and expenses. 7,232,000 Net income $ 3,924,000 Instructions a. Prepare a corrected income statement for the year ended December 31, 2018, Instructions a. Prepare a corrected income statement for the year ended December 31, 2018, using the format illustrated in Exhibit 12-2. Include at the bottom of your income statement all appropriate earnings per share figures. Assume that throughout the year the company had outstanding a weighted average of 500,000 shares of a single class of capital stock. b. Prepare a statement of retained earnings for 2018. (As originally reported, retained earnings at December 31, 2017, amount to $3,200,000.) c. What does the $56,000 "Gain on sale of treasury stock" represent? How would you report this item in Dexter's financial statements at December 31, 2018