Rogers Corporation's capital structure consists of 100,000 shares of common stock. At December 31, 2020 an analysis of the accounts and discussions with company officials revealed the following information:

Sales revenue $1,835,000

Discontinued operations loss (net of tax) 54,000

Selling expenses 217,740

Cash 60,000

Accounts receivable 90,000

Common stock 200,000

Cost of goods sold 688,125

Accumulated depreciation-machinery 180,000

Dividend revenue 11,845

Unearned service revenue 43,200

Interest payable 1,000

Land 370,000

Patents 100,000

Retained earnings, January 1, 2020 270,000

Interest expense 22,270

Administrative expenses 205,390

Dividends declared 24,000

Allowance for doubtful accounts 5,000

Notes payable (maturity 7/1/26) 200,000

Machinery 450,000

Repair Parts and Supplies 40,000

Accounts payable 60,000

The amount of income taxes applicable to income was $285,328, excluding the tax effect of the discontinued operations loss which amounted to $36,000.

Instructions

(a) Prepare a multiple-step income statement including earnings per share information.

(b) Prepare a retained earnings statement.