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 a before tax (assume a rate of 25%). The company had 112,000 common shares issued and outstanding throughout the year, as we 22,400 shares of $1.20 cumulative preferred shares issued and outstanding. Retained earnings at December 31, 2022, were $334,800. Weatherford International Inc. Income Statement December 31, 2023 Revenues: Sales Gain on sale of Interest income Gain on sale of plant Operating profit on discontinued operation Expenses: Cost of goods sold Selling and administrative expenses Sales discounts Loss on sale of discontinued operation Dividends equipment Profit Earnings per share $1,182,000 15,600 6,960 $ 142,800 29,640 $1,377,000 360,000 186,000 12,360 37,200 132,000 727,560 $ 649,440 $ 5.80

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 a before tax (assume a rate of 25\%). The company had 112.000 common shares issued and outstanding throughout the year, as we 22,400 shares of $1.20 cumulative preferred shares issued and outstanding. Retained earnings at December 31, 2022, were $334.800. Watherford Intemational Inc. Income statement December 31, 2023 Revenues: Sales Gain on sale of equipeent Interest income Gain on sale of plant Operating profit on discontinued operation Expenses: Cost of goods sold selling and adninistrative expenses sales discounts Loss on sale of discontinued operation Dividends Profit Carnings per share $1,182,eee15,6006,960142,80029,64051,377,000$360,000186,00012,36037,200132,000727,5605649,44035,80 The income statement for Weatherford International Inc's year ended December 31, 2023, was prepared by an inexperienced bookkeeper. As the new accountant, your immedlate priority is to correct the statement. All amounts included in the statement an before tax (assume a rate of 25\%). The company had 112,000 common shares issued and outstanding throughout the year, as wel 22,400 shares of $1.20 cumulative preferred shares issued and outstanding. Retained earnings at December 31, 2022, were $334,800. Weatherford Inteqnational Inc. Income Statement December 31, 2023 Revenues: Sales Gain on sale of equipoent Interest income Gain on sale of plant Operating profit on discontinued operation Expenses: Cost of goods sold selling and administrative expenses sales discounts Loss on sale of discontinued operation Dividends Profit: Earnings per share 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 lassume a rote of 25va. The company had 112.000 common shares issued and outstanding throughout the year, as well as 22.400 shares of $120 cumulative preferred shares issued and outstanding Retained earnings at December 31, 2022, were $334.800