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Tungsten Company, Incorporated, sells heavy construction equipment. There are $15,000$ shares of capital

stock outstanding. The annual fiscal period ends on December $31.$ The following condensed trial balance

was taken from the general ledger on December $31,$ Current Year:

Required:

Beginning with the amount for net sales, prepare an income statement $($showing both gross profit and income from

operations$).$

Note: Round "Earnings per share" to $2$ decimal places.