WEATHERFORD INTERNATIONAL INC.

Income Statement

For Year Ended December $31,2023$

$\backslash$table$[[$Net sales,,$$1,169,500],[$Interest income,,$6,860],[$Gross profit,,$$1,176,360],[,,],[$Other revenues and expenses:,,$],[,,],[,,],[,,],[,,],[,,],[,,],[,,]]$ Earnings per share of common shares outstanding

ProfitThe income statement for Weatherford International Inc.$\text{'}$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 $$1\mathrm{.}20$ cumulative preferred shares issued and outstanding. Retained earnings at December $31,2022,$ were $$332,300.$

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.$)$