Google LLC has provided the following financial data for the year ending December 31, 2023:

• Total Revenue: $45,000,000
• Cost of Goods Sold: $30,000,000
• Operating Expenses: $8,000,000
• Interest Expense: $1,500,000
• Income Tax Expense: $2,500,000
• Dividends Paid: $3,000,000
• Opening Retained Earnings: $10,000,000

Requirements:

1. Compile an income statement.
2. Calculate the net profit.
3. Prepare a statement of retained earnings.
4. Compute the earnings per share with 60,000 shares.
5. Assess the impact of a 10% decrease in operating expenses on net income.