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				$	740,000
Interest and dividends					47,000
Gain on sale of investments					94,000
Total revenues and gains					881,000
Expenses and losses:
Cost of goods sold	$	400,000
Selling expenses		74,000
Administrative expenses		94,000
Interest		41,000
Restructuring costs		70,000
Income taxes		80,800
Total expenses and losses					759,800
Net Income				$	121,200
Earnings per share				$	1.21

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.)