The following incorrect income statement was prepared by the accountant of the Axel Corporation AXEL CORPORATION Income Statement For the Year Ended December 31, 2018 Revenues and gains: Sales Interest and dividends Gain on sale of investments $650,000 38,000 85,000 773,000 Total revenues and gains Expenses and losses: Cost of goods sold Selling expenses Administrative expenses Interest Restructuring costs Income taxes $355,000 65,000 85,000 32,000 61,000 70,000 668,000 $105,000 $1.05 Total expenses and losses Net Income Earnings per share Required Prepare a multiple-step income statement for 2018 applying generally accepted accounting principles. The income tax rate is 40% (Amounts to be deducted should be indicated with a minus sign. Round EPS answer to 2 decimal places.) AXEL CORPORATION Income Statement For the Year Ended December 31, 2018 Earnings per share