2-07 The following balances were taken from the books of Swifty Limited on December 31, 2020: C-03 Interest income $81,000 Accumulated depreciation-equipment $30,000 Cash 49,000 Accumulated depreciation-buildings 29,000 Part Sales revenue 1,400,000 Notes receivable 155,000 b,d1- Accounts receivable 150,000 Selling expenses 193,000 Prepaid insurance 15,000 Accounts payable 166,000 art Sales returns and allowances 146,000 Bonds payable f11,000 Allowance for doubtful accounts 6,000 Administrative expenses 90,000 Sales discounts 46,000 Unearned revenue 24,000 (Part Land 110,000 Interest expense 40,500 Equipment 120,000 Notes payable 110,000 Building 160,000 Loss from storm damage 152,000 Part Cost of goods sold 628,000 Depreciation expense 40,500 Assume the total effective tax rate on all items is 20%.Swifty Limited Income Statement x Revenue Sales Revenue Less: Sales Returns and Allowances (Sales Discounts Net Sales Revenue X Cost of Goods Sold X Gross Profit / (Loss) Operating Expenses X Selling Expenses X Administrative Expenses Depreciation Expense E XF C a edugen.wileyplus.com/edugen/shared/assignment/test/qprint.uni Gross Profit / (Loss) Operating Expenses Selling Expenses Administrative Expenses Depreciation Expense [Income before Income Tax) Income Tax Expense Net Income / (Loss) Earnings Per Share