The income statement for Weatherford International Inc.$$s year ended December $31,2023,$ was prepared by an inexperienced bookkeeper. As the new accountant, your immediate priority is to correct the statement. All amounts included in the statement are before tax $($assume a rate of $25\%).$ The company had $102,000$ common shares issued and outstanding throughout the year, as well as $20,400$ shares of $$1\mathrm{.}20$ cumulative preferred shares issued and outstanding. Retained earnings at December $31,2022,$ were $$329,800.$

Weatherford International Inc.

Income Statement

December $31,2023$

Revenues:

Sales $ $1,157,000$

Gain on sale of equipment $14,600$

Interest income $6,760$

Gain on sale of plant $141,800$

Operating profit on discontinued operation $29,140$ $ $1,349,300$

Expenses:

Cost of goods sold $ $350,000$

Selling and administrative expenses $181,000$

Sales discounts $11,860$

Loss on sale of discontinued operation $36,200$

Dividends $122,000701,060$

Profit $ $648,240$

Earnings per share $ $6\mathrm{.}36$

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.$)$