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 35%). The company had 104,000 common shares issued and outstanding throughout the year, as well as 20,800 shares of $1.20 cumulative preferred shares issued and outstanding. Retained earnings at December 31, 2022, were $330,800.

Weatherford International Inc. Income Statement December 31, 2023 Revenues: Sales$1,162,000 Gain on sale of equipment 14,800 Interest income 6,800 Gain on sale of plant 142,000 Operating profit on discontinued operation 29,240 $1,354,840 Expenses: Cost of goods sold$352,000 Selling and administrative expenses 182,000 Sales discounts 11,960 Loss on sale of discontinued operation 36,400 Dividends 124,000 706,360 Profit $648,480 Earnings per share $6.24

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 pla