$1,395,200 Write-off of inventory due to obsolescence Nct sales Cast of goods sold Selling expenses Administrative expenses Dividend revenue Interest revenuc 93,380 784,400 Depreciation expense omitted by accident in 2016 48,700 52,700 45,870 1,057,970 0,000 Casualty loss5 55,900 Cash dividends declared 22,000 Retained earnings at December 31, 2016 7.990 Effective tax rate of 34% on al items Prepare a multiple-step income statement for 2017. Assume that 60,290 shares of common stock are outstanding. (Round earnings per share to 2 decimal places, e.g.1.49.) KINGBIRD CORP