The income statement for Weatherford International Inc.$$s year ended December $31,2023,$ was prepared by an inexperienced bookkeeper. As the new accountant, your immediate priority is to correct the statement. All amounts included in the statement are before tax $($assume a rate of $35\%).$ The company had $114,000$ common shares issued and outstanding throughout the year, as well as $22,800$ shares of $$1\mathrm{.}20$ cumulative preferred shares issued and outstanding. Retained earnings at December $31,2022,$ were $$335,800.$

Weatherford International Inc.

Income Statement

December $31,2023$

Revenues:

Sales $ $1,187,000$

Gain on sale of equipment $15,800$

Interest income $7,000$

Gain on sale of plant $143,000$

Operating profit on discontinued operation $29,740$ $ $1,382,540$

Expenses:

Cost of goods sold $ $362,000$

Selling and administrative expenses $187,000$

Sales discounts $12,460$

Loss on sale of discontinued operation $37,400$

Dividends $134,000732,860$

Profit $ $649,680$

Earnings per share $ $5\mathrm{.}70$

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.$)$