The income statement for Weatherford International Inc.'s year ended December 31, 2023, was prepared by an inexperienced pookkeeper. As the new accountant, your immediate priority is to correct the statement. All amounts included in the statement are pefore tax (assume a rate of 40% ). The company had 107,000 common shares issued and outstanding throughout the year, as well as 21,400 shares of $1.20 cumulative preferred shares issued and outstanding. Retained earnings at December 31,2022 , were $332,300