(Learning Objective 1: Preparing a corrected income statement, including comprehensive income) Richard Wright, accountant for Sweetie Pie Foods, Inc., was injured in an auto accident. Another employee prepared the following income statement for the fiscal year ended June 30, 20X7:

Sweetie Pie Foods, Inc. Income Statement June 30, 20X7
Revenue and gains:
Sales	$733,000
Paid-in capital in excess of par common	100,000
Total revenues and gains	833,000
Expenses and losses:
Cost of goods sold	$383,000
Selling expenses	103,000
General expenses	74,000
Sales returns	22,000
Unrealized loss on available-for-sale investments	4,000
Dividends paid	15,000
Sales discounts	10,000
Income tax expense	56,400
Total expenses and losses	667,400
Income from operations	165,600
Other gains and losses:
Extraordinary gain	30,000
Loss on discontinued operations	(15,000)
Total other gains (losses)	15,000
Net income	$180,600
Earnings per share	$4.52

The individual amounts listed on the income statement are correct. However, some accounts are reported incorrectly, and some accounts do not belong on the income statement at all. Also, income tax (40%) has not been applied to all appropriate figures. Sweetie Pie Foods issued 44,000 shares of common stock back in 20X1 and held 4,000 shares as treasury stock all during the fiscal year 20X7.

Required

Prepare a corrected statement of income (single-step, which lists all revenues together and all expenses together), including comprehensive income, for fiscal year 20X7. Include earnings per share.