Sony Corporation has provided the following details for the fiscal year ending March 31, 2023:

Financial Data	Amount ($)
Net Sales	65,000,000
Cost of Sales	40,000,000
Administrative Expenses	10,000,000
Depreciation Expense	2,500,000
Interest Expense	1,800,000
Income Tax Expense	3,000,000
Dividends Paid	4,500,000
Beginning Retained Earnings	12,000,000

Requirements:

1. Draft an income statement.
2. Calculate the net income.
3. Prepare a statement of retained earnings.
4. Determine the earnings per share with 120,000 shares.
5. Assess the impact of a 20% increase in net sales on net income.