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 20 %). The company had 119,000 common shares issued and outstanding throughout the year, as well as 23,800 shares of $1.20 cumulative preferred shares issued and outstanding. Retained earnings at December 31, 2019, were $338,300. Weatherford International Inc. Income Statenent December 31, 2020, Revenues: Sales Gain on sale of equipment Interest income Gain on sale of plant Operating profit on discontinued operation Expenses Cost of goods sold Selling and administrative expenses Sales discounta Loss on sale of discontinued operation Dividends Profit Earnings per share, Required: $1,199,500 16,300 7,100) 143,500 29,990 $1,396,390 $ 367,000 189,500 12,710 37,900 139,000 746,110 $ 650,280 $ 5.46 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.)