The income statement for Weatherford International Inc.s year ended December 31, 2020, 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 $1.20 cumulative preferred shares issued and outstanding. Retained earnings at December 31, 2019, were $329,800.

Weatherford International Inc.
Income Statement
December 31, 2020
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		122,000			701,060
Profit				$	648,240
Earnings per share				$	6.36

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.)