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 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.

Weatherford International Inc.
Income Statement
December 31, 2023
Revenues:
Sales	$	1,169,500
Gain on sale of equipment		15,100
Interest income		6,860
Gain on sale of plant		142,300
Operating profit on discontinued operation		29,390		$	1,363,150
Expenses:
Cost of goods sold	$	355,000
Selling and administrative expenses		183,500
Sales discounts		12,110
Loss on sale of discontinued operation		36,700
Dividends		127,000			714,310
Profit				$	648,840
Earnings per share				$	6.06

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.)