The following incorrect income statement was prepared by the accountant of the Axel Corporation: $620,000 35,000 82,000 737,000 AXEL CORPORATION Income Statement For the Year Ended December 31, 2021 Revenues and gains: Sales revenue Interest revenue Gain on sale of investments Total revenues and gains Expenses and losses: Cost of goods sold $340,000 Selling expense 62,000 Administrative expense 82,000 Interest expense 19,000 Restructuring costs 58,000 Income tax expense 44,000 Total expenses and losses Net Income 605,000 $132,000 Earnings per share $ 1.32 AXEL CORPORATION Income Statement For the Year Ended December 31, 2021 Sales revenue $ 620,000 620,000 Cost of goods sold Gross profit Operating expenses: Selling expense Administrative expense 0 Total operating expenses Operating income Other income (expense): 620,000 Interest expense Restructuring costs Total other income, net 0 Income before income taxes 620,000 Net income Earnings per share