Simon Auto wholesalers had sales of $700,000 in 2016 and cost of goods sold represented 70 percent of sales. Selling and administrative expenses were 12 percent of sales. Depreciation expense was $10,000 and interest expense for the year was $8,000. The firm's tax rate is 30 percent. Prepare in good form an income statement. If the company had 100,000 shares outstanding compute the earning per share