The following data relate to the operations of Slick Software, Incorporated, during $2024$:

Continuing operations:

Net sales $ $19,850,000$

Costs and expenses $($including applicable income tax$)16,900,000$

Other data:

Operating income during $2024$ on segment of the business discontinued near year$-$end $($net of income tax$)140,000$

Loss on disposal of discontinued segment $($net of income tax benefit$)550,000$

Adjustment to increase $2023$ depreciation expense, net of income tax benefit $($correction of error$)350,000$

Total cash dividends declared on both preferred and common stock $950,000$

Required:

Prepare a condensed income statement for $2024,$ including earnings per share figures. Slick Software, Incorporated, had $200,000$ shares of $$1$ par value common stock and $80,000$ shares of $6\mathrm{.}25$ percent, $$100$ par value preferred stock outstanding throughout the year.

Prepare a statement of retained earnings for the year ended December $31,2024.$ As originally reported, retained earnings at December $31,2023,$ amounted to $$7,285,000.($Treat the increase in $2023$ depreciation expense as a negative adjustment to beginning $2024$ retained earnings.$)$

Compute the amount of cash dividend per share of common stock declared by the board of directors for $2024.$ Assume no dividends in arrears on the preferred stock.

Assume that $2025$ earnings per share is $$8\mathrm{.}00.$ Assume also that there are no changes in outstanding common or preferred stock in $2025.$ Do you consider the $$8\mathrm{.}00$ earnings per share figure in $2025$ to be a favorable or unfavorable figure in comparison with $2024$ performance