Assignment 9 - Ch 13 2 50 points 01:47:28 Skipped Print 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 20%). The company had 101,000 common shares issued and outstanding throughout the year, as well as 20,200 shares of $1.20 cumulative preferred shares issued and outstanding. Retained earnings at December 31, 2022, were $329,300. Weatherford International Inc. Income Statement December 31, 2023 Revenues: Sales Gain on sale of equipment 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 $1,154,500 14,500 6,740 Saved $ 349,000 180,500 11,810 36,100 121,000 141,700 29,090 $1,346,530 WEATHERFORD INTERNATIONAL INC. Income Statement For Year Ended December 31, 2023 698,410 $ 648,120 $ 6.42 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.) Help Save & Exi

The income statement for Weatherford international Inc, syear ended Decembet 31, 2023, was prepared by an inexpetienced bookkeeper. As the new accountant, your immediate prioniy is to ceirect the statement. All amounts included in the staternert pre before tax (assume a rote of 20% ). The compary had 101,000 common shares issued and outstanding throughout the yous, as well an 20.200 shares of $1,20 cumplative preferted shores issued ond outstanding. Retalined earnings at Oecember 34.2022 . were $329,300 Required: Prepare a corrected income staternent, including earnings per share information. (Niegative answers should be indicated by a minct sign in the other revenues and expensirs section and the discontirued operations section. Round the "Earnings per Share" answers to 2 decimal places.)