Required information [The following information applies to the questions displayed below.] Tungsten Company, Incorporated, sells heavy construction equipment. There are 12,000 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: 1. 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