Computing Financial Statement Measures The following pretax amounts are taken from the adjusted trial balance of Mastery Inc. on December 31, 2020, its annual year-end. Assume that the income tax rate for all items is 25%. The average number of common shares outstanding during the year was 20,000. Balance, retained earnings, December 31, 2019 $ 252,000 Sales revenue 1,680,000 Cost of goods sold 588,000 Selling expenses 201,600 Administrative expenses 190,400 Gain on sale of investments 56,000 Unrealized holding gain on debt investments, net of tax 23,800 Prior period adjustment, understatement of depreciation from prior period (2019) 112,000 Dividends declared and paid 89,600 Required Compute the following amounts for the year-end financial statements of 2020. Do not use negative signs with any of your answers. Enter the answer for earnings per share in dollars and cents, rounded to the nearest penny. $ $ Item a. Gross profit (2020). b. Operating income (2020). c. Net income (2020). d. Earnings per share (2020). e. Comprehensive income (2020). f. Retained earnings balance (December 31, 2020) Amount 1,092,000 700,000 567,000 28.35 590,800 $ $ $ $ X Chock