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 30%). The company had 108,000 common shares issued and outstanding throughout the year, as well as 21,600 shares of $1.20 cumulative preferred shares issued and outstanding. Retained earnings at December 31, 2022, were $332,800.

Weatherford International Inc.
Income Statement
December 31, 2023
Revenues:
Sales	$	1,172,000
Gain on sale of equipment		15,200
Interest income		6,880
Gain on sale of plant		142,400
Operating profit on discontinued operation		29,440		$	1,365,920
Expenses:
Cost of goods sold	$	356,000
Selling and administrative expenses		184,000
Sales discounts		12,160
Loss on sale of discontinued operation		36,800
Dividends		128,000			716,960
Profit				$	648,960
Earnings per share				$	6.01

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.)