The following details are extracted from the financial records of Fir Tree Ltd. for the year ended March 31, 2023:

• Accounts receivable: $140,000
• Retained earnings, April 1, 2022: $455,000
• Loss on operation of discontinued operations (before tax): $135,000
• Sales revenue: $1,850,000
• Cost of goods sold: $950,000
• Selling expenses: $200,000
• Cash: $98,000
• Common shares (110,000 common shares outstanding): $410,000
• Dividend revenue: $30,000
• Inventory: $155,000
• Unearned revenue: $10,000
• Equipment: $510,000
• Interest expense: $32,000
• Administrative expenses: $220,000
• Bonds payable (maturity 2028): $260,000
• Accounts payable: $110,000
• Gain on disposal of discontinued operations (before tax): $210,000
• Depreciation expense: $80,000
• Loss on sale of machinery (before tax): $22,000

Fir Tree Ltd. is subject to a 29% income tax rate.

Requirements:

1. Prepare a multiple-step income statement for Fir Tree Ltd. for the year ended March 31, 2023.
2. Compute the earnings per share if needed.
3. Calculate the gross profit margin.
4. Determine the operating income.