The following financial data pertains to Spruce Corp. for the year ended December 31, 2023:

• Accounts receivable: $138,000
• Retained earnings, January 1, 2023: $470,000
• Loss on operation of discontinued operations (before tax): $140,000
• Sales revenue: $1,850,000
• Cost of goods sold: $950,000
• Selling expenses: $215,000
• Cash: $104,000
• Common shares (130,000 common shares outstanding): $450,000
• Dividend revenue: $35,000
• Inventory: $162,000
• Unearned revenue: $13,000
• Equipment: $525,000
• Interest expense: $35,000
• Administrative expenses: $240,000
• Loans payable (maturity 2027): $280,000
• Accounts payable: $120,000
• Gain on disposal of discontinued operations (before tax): $220,000
• Depreciation expense: $90,000
• Loss on sale of assets (before tax): $30,000

Spruce Corp. is subject to a 27% income tax rate.

Requirements:

1. Prepare a multiple-step income statement for Spruce Corp. for the year ended December 31, 2023.
2. Compute the earnings per share if needed.
3. Calculate the gross profit margin.
4. Determine the income from continuing operations.