The income statement for Weatherford International Inc.$$s year ended December $31,2023,$ was prepared by an inexperienced bookkeeper. As the new accountant, your immediate priority is to correct the statement. All amounts included in the statement are before tax $($assume a rate of $20\%).$ The company had $101,000$ common shares issued and outstanding throughout the year, as well as $20,200$ shares of $$1\mathrm{.}20$ cumulative preferred shares issued and outstanding. Retained earnings at December $31,2022,$ were $$329,300.$

Weatherford International Inc.

Income Statement

December $31,2023$

Revenues:

Sales $ $1,154,500$

Gain on sale of equipment $14,500$

Interest income $6,740$

Gain on sale of plant $141,700$

Operating profit on discontinued operation $29,090$ $ $1,346,530$

Expenses:

Cost of goods sold $ $349,000$

Selling and administrative expenses $180,500$

Sales discounts $11,810$

Loss on sale of discontinued operation $36,100$

Dividends $121,000698,410$

Profit $ $648,120$

Earnings per share $ $6\mathrm{.}42$

Required:

Prepare a corrected income statement, including earnings per share information. $($Negative answers should be indicated by a minus sign in the other revenues and expenses section and the discontinued operations section. Round the "Earnings per Share" answers to $2$ decimal places.$)$