Procter & Gamble (P&G) has reported the following for the year ending June 30, 2023:

• Total Revenue: $95,000,000
• Cost of Goods Sold: $60,000,000
• Operating Expenses: $18,000,000
• Interest Expense: $3,000,000
• Income Tax Expense: $6,000,000
• Dividends Paid: $7,500,000
• Beginning Retained Earnings: $22,000,000

Requirements:

1. Compile an income statement.
2. Calculate the net profit.
3. Draft a statement of retained earnings.
4. Compute the earnings per share with 350,000 shares.
5. Analyze the impact of a 10% increase in total revenue on net income.