The following information was taken from the records of PepsiCo Inc. for the year ended December 31, 2023:

Sales revenue: $17,000,000

Cost of goods sold: $13,000,000

Selling expenses: $3,500,000

Administrative expenses: $2,500,000

Interest expense: $600,000

Dividend revenue: $150,000

Income tax expense: $2,000,000

Preferred stock dividends: $120,000

Preferred stock: $1,800,000

Common stock: $7,500,000

Retained earnings, Jan 1, 2023: $4,000,000

Instructions:

Prepare a multi-step income statement. (b) Calculate the earnings per share. (c) Prepare a statement of retained earnings. (d) Compute the return on equity. (e) Determine the times interest earned ratio.