From the following information, construct a simple income statement and a balance sheet: Sales $1,500,000 Finished goods 160,000 Long-term debt 200,000 Raw materials 80,000 Cash 40,000 Cost of goods sold 730,000 Accounts receivable 240,000 Plant and equipment 380,000 Interest expense 70,000 Number of shares outstanding 70,000 Earnings before taxes 620,000 Taxes 80,000 Accounts payable 240,000 Other current liabilities 50,000 Other expenses 80,000 Equity 410,000 Round your answer for earnings per share to the nearest cent. Corporation X: Income Statement for the Year Ended XX/XX/XX Sales Cost of goods sold Other expenses Puestions Navigation Menu Earnings before interest and taxes Interest expense Earnings before taxes Taxes Income Statement for the Year Ended XX/XX/XX Sales Cost of goods sold Other expenses Earnings before interest and taxes Interest expense Earnings before taxes Taxes Net earnings Number of shares outstanding Earnings per share Corporation X Balance Sheet as of XX/XX/XX Liabilities and Owners' Equity Accounts payable Other current liabilities Total current liabilities Long-term debt Equity Assets Cash Accounts receivable Inventores Raw materials Finished goods Total inventories Total current assets Plant and Equipment Totalt INI Total liabilities and shareholdersequity