The following information is available for Norman Corporation for the year ended December 31, 2022: sales revenue $700,000, other revenues and gains $92,000, operating expenses $110,000, cost of goods sold $465,000, other expenses and losses $32,000, and preferred stock dividends $30,000. The company's tax rate was 20%, and it had 50,000 common shares outstanding during the entire year. 

Instructions 

a. Prepare a corporate income statement. 

b. Calculate earnings per share.