The following is an income statement for GAMA Company for the year ended December 31, 2019.

GAMA Company

Income Statement

For the Year Ended December 31, 2019

Net sales SAR800,000

Costs and expenses:

Cost of goods sold 640,000

Selling, general, and administrative expenses 70,000

Other, net 20,000 730,000

Income before income taxes 70,000

Income taxes 21,000

Net income SAR 49,000

Additional information:

1. "Selling, general, and administrative expenses" included a charge of SAR7,000 for impairment of intangibles.

2. "Other, net" consisted of interest expense, SAR10,000, and a discontinued operations loss of SAR10,000 before taxes. If the loss had not occurred, income taxes for 2019 would have been SAR24,000 instead of SAR21,000.

3. GAMA had 20,000 ordinary shares outstanding during 2019.

Instructions

Prepare a corrected income statement, including the appropriate per share disclosures.