Answer and Explanation:
The presentation of the income statement is presented below:
Income statement
Revenues and gains:  
Sales revenue          1,400,000
Add: Interest revenue       35,000
Add: Gain on sale of investment    55,000
Total revenues and gains      1,490,000
Less: 
Expenses and losses:  
Cost of goods sold    740,000  
General and administrative expenses	80,000  
Selling expenses   185,000  
Interest expense    45,000  
Total expenses and losses     1,050,000
Income before income tax       440,000
Income tax expense     - 135,000
Net income    305,000
EPS = Net income ÷ Number of common shares 
                   ($305,000 ÷ 100,000)  3.05
2.
Income statement
Sales            1,400,000
Less: Cost of goods sold - $740,000
Gross profit      660,000
Less: 
Operating expenses:  
General and administrative expenses	$80,000  
Selling expenses $185,000  
Total operating expenses  -$265,000
 Operating income $395,000
Other incomes and expenses  
Interest revenue  $35,000  
Gain on sale of investment $55,000  
Interest expense  -$45,000  
Total other income, net  $45,000
Less: Income before income tax $440,000
Income tax expense -$135,000
Net income $305,000
EPS = Net income ÷ Number of common shares 
(305,000 ÷ 100,000)  3.05