previously asked question, incorrect answer.

Check my Problem 4-5 Income statement presentation; Restructuring costs; Discontinued operations; Accounting error (LO4-1, 4-3, 4-4, 4-5] The preliminary 2018 income statement of Alexian Systems, Inc., is presented below ALEXIAN SYSTEMS, INC. Book Income Statement For the Year Ended December 31, 2018 ($ in millions, except earnings per share) Revenues and gains: Net sales ferences $ 431 Interest 132 Other income 572 Total revenues and gains Expenses: Cost of g0ods sold Selling and administrative 276 146 60 Income taxes 482 Total expenses $ 90 Net Income $3.60 Earnings per share 1 $3.60 Earnings per share Additional information: 1 Selling and administrative expenses include $32 million in restructuring costs. 2 Included in other income is $125 million in income from a discontinued operation. This consists of $90 million in operating income and a $35 million gain on disposal. The remaining $7 million is from the gain on sale of investments. 3 Cost of goods sold was increased by $5 million to correct an error in the calculation of 2017's ending inventory. The amount is material ooints eBook References Required: Prepare a revised income statement for 2018 reflecting the additional facts. Use a multiple-step format. Assume that an income tax rate of 40 % applies to all income statement items, and that 25 million shares of common stock were outstanding throughout the year (Enter your answers in millions except earnings per share. Round EPS answers to 2 decimal places.) ALEXIAN SYSTEMS, INC. Income Statement For the Year Ended December 31, 2018 ($ in millions except per share date) Mc Prey 1 of 2 Next EXIAN SYSTEMS, INC Income Statement For the Year Ended December 31, 2018 (S in millions except per share date s revenue $ 431 Cos of goods sold 276 Gross profit 155 Operating expenses: Selling and administrative 114 Total operating expenses 114 Income from continuing operations 41 Other income: Gain on sale of investment Interest revenue 16 Income from continuing operations Next> 1 of 2 W 3xC Total operating expenses Income from continuing operations 114 41 Other income: Gain on sale of investment erest revenu Income from continuing operations 16 Total other income 57 Restructuring costs (32) 25 Income from continuing operations before income taxes Discontinued operations: 54 Operating income 21 Income from operations of discontinued component 75 Income from discontinued operations 90 Net income Earnings per share: 3.60 1 of 2 AVEXIAN SYSTEMS, INC. Income Staternent For the Year Ended December 31, 2018 (S in millions except per share date s revenue 431 Cost of goods sold Gross profit Operating expenses 276 155 Selling and administrative 114 Total operating expenses 114 Income from continuing operations 41 Other income: Gain on sale of investment 9 Interest revenue 16 Income from continuing operations Next Prev 1 of 2 Total operating expenses Income from continuing operations 114 41 Other income: Gain on sale of investment erest revenu Income from continuing operations 16 Total other income 57 Restructuring costs (32) 25 Income from continuing operations before income taxes Discontinued operations: 54 Operating income 21 Income from operations of discontinued component 75 Income from discontinued operations 90 Net income Earnings per share: 3.60 1 of 2