The trial balance of Lakewood Inc. included the following accounts as of December 31, 2021 Debits 5 Credits 1,450,000 73,000 43,000 Sales revenue Interest revenue Gain on sale of investments Cost of goods sold Selling expense Loss on inventory write-down Interest expense General and administrative expense 820,000 185,000 23,000 33,000 143,000 5 01:30:21 Lakewood Inc. had 100,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 25%. eBook Required: Prepare a single-step income statement with earnings per share disclosure. (Round Earnings per share answer to 2 decimal places.) LAKEWOOD INC. Income Statement For the Year Ended December 31, 2021 Revenues and gains: S Sales revenue 1,450,000 73,000 43,000 Interest revenue Gain on sale of investments 1,566,000 $ Total revenues and gains Expenses and losses: Cost of goods sold Selling expense General and administrative expense Loss on inventory write down Interest expense (820.000) (185,000) (143 000) (23.000 (33 000) Total expenses and loss Income before income taxes (1,204.000) 362.000 90,500 271,500 2.72 Income tax expense Nel income floss) Earnings per share. S S