Problem 9-01 From the following information, construct a simple income statement and a balance sheet: Sales Finished goods Long-term debt Raw materials Cash Cost of goods sold Accounts receivable Plant and equipment $1,000,000 170,000 300,000 110,000 20,000 500,000 340,000 540,000 100,000 100,000 340,000 120,000 180,000 80,000 60,000 620,000 Interest expense Number of shares outstanding Earnings before taxes Taxes Accounts payable Other current liabilities Other expenses Equity Round your answer for earnings per share to the nearest cent. 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 Earnings before interest and taxes Interest expense Earnings before taxes Taxes Net earnings Number of shares outstanding Earnings per share Assets Cash Accounts receivable Inventories Raw materials Finished goods Total inventories Total current assets Plant and Equipment Total assets 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 Total liabilities and shareholders' equity $