The following data was provided by Intel Corporation for the year ended December 31, 2023:

Sales revenue: $8,000,000

Cost of goods sold: $5,000,000

Selling expenses: $1,200,000

Administrative expenses: $1,000,000

Interest expense: $180,000

Dividend revenue: $40,000

Income tax expense: $700,000

Preferred stock dividends: $35,000

Preferred stock: $400,000

Common stock: $2,500,000

Retained earnings, Jan 1, 2023: $800,000

Instructions:

Prepare a multi-step income statement. (b) Calculate the earnings per share. (c) Prepare a retained earnings statement. (d) Compute the debt to equity ratio. (e) Calculate the return on equity.