Problem 3 Winter Park Electronic Company produces a popular blood pressure monitor which sells for $120. Last year the company sold 939,000 monitors, each of which costs $48 to produce. The company incurred selling and administrative expenses of $40,000,000 and depreciation expense of $2,500,000. In addition, the company has a $14,500,000 loan outstanding at 4.5%. Their tax rate is 21%. There are 2,540,500 common shares outstanding (the company does not have preferred stockholders). Prepare an income statement for the Winter Park Electronic Company in good form (include EPS). See pages 26 - 28