The following financial information is available for Cypress Systems for the year ended December 31, 2023:

• Accounts receivable: $117,000
• Retained earnings, January 1, 2023: $405,000
• Loss on operation of discontinued operations (before tax): $120,000
• Sales revenue: $1,620,000
• Cost of goods sold: $860,000
• Selling expenses: $170,000
• Cash: $91,000
• Common shares (65,000 common shares outstanding): $345,000
• Dividend revenue: $21,000
• Inventory: $142,000
• Unearned revenue: $7,800
• Land: $450,000
• Interest expense: $26,000
• Administrative expenses: $185,000
• Bonds payable (maturity 2026): $225,000
• Accounts payable: $93,000
• Gain on disposal of discontinued operations (before tax): $190,000
• Depreciation expense: $63,000
• Loss on sale of equipment (before tax): $14,000

Cypress Systems is subject to a 28% income tax rate.

Requirements:

1. Prepare a multiple-step income statement for Cypress Systems for the year ended December 31, 2023.
2. Compute the earnings per share if needed.
3. Calculate the net profit margin.
4. Determine the net income.