Sales-net Cost of goods sold Beginning inventory Purchases Ending inventory Total Gross profit Administrative expenses Income before taxes Income taxes (50%) Net income STATEMENT OT Retained earnings-beginning Retained earnings-ending Earnings per share FOR THE YEARS ENDED MAY 31 2016 $14,080 990 12,910 (1,100) 12,800 1,280 700 580 290 290 1,200 $1,490 OMLAND RETAINED EARNING $2.90 2017 $15,420 1,100 13,810 (990) 13,920 1,500 760 740 370 370 1,490 $1,860 $3.70 2018 $16,530 990 15,100 (1,120) 14,970 1,560 830 730 365 365 1,860 $2,225 $3.65 2019 $18,390 1,120 15,740 (1,230) 15,630 2,760 910 1,850 925 925 2,225 $3,150 $9.25 2020 $19,030 1,230 17,598 (1,380) 17,448 1,582 1,000 582 291 291 3,150 $3,441 $2.91