Question 3 The following information is available for Ivanhoe Corporation for the year ended December 31, 2020: sales revenue $795,000, other revenues and gains $96.000, operating expenses $107,000, cost of goods sold $469,000, other expenses and losses $32,000, and preferred stock dividends $39,950. The company's tax rate was 35%, and it had 60,000 shares outstanding during the entire year, (a) Your answer is correct. Prepare a corporate income statement. (List other revenues before other expenses.) IVANHOE CORPORATION Income Statement For the Year Ended December 31, 2020 Sales Revenue 795,000 Cost of Goods Sold 469,000 Gross Profit/ (Loss) 326,000 Operating Expenses 107,000 Income from Operations 219,000 Other Revenues and Gains 96,000 Other Expenses and Losses 32,000 Income before Income Taxes 283,000 Income Tax Expense 99,050 Net Income /(Loss) 183,950 SHOW SOLUTION SHOW ANSWER LINK TO TEXT Attempts: 1 of 8 used (b) Calculate earnings per share. (Round answer to 2 decimal places, e.g. 2.25.) Earnings per share