The financial records of Facebook Inc. for the year ended December 31, 2023, include:

Sales revenue: $5,000,000

Cost of goods sold: $3,000,000

Operating expenses: $800,000

Interest expense: $120,000

Dividends declared: $40,000

Income tax expense: $300,000

Preferred stock: $600,000

Common stock: $2,000,000

Retained earnings, January 1, 2023: $750,000

Requirements:

Prepare a multi-step income statement.

Calculate the earnings per share.

Prepare a statement of retained earnings.

Prepare a balance sheet as of December 31, 2023.

Compute the current ratio.