Assignment Gradebook ORION Downloadable eTextbook ent CALCULATO Exercise 4-11 The following are selected ledger accounts of Spock Corporation at December 31, 2020 Cash $185,000 Salaries and wages expense (sales) Inventory 535,000 Salaries and wages expense (office) Sales revenue 4,275,000 Purchase returns Unearned sales revenue 117,000 Sales returns and allowances Purchases 2,786,000 Freight-in Sales discounts 34,000 Accounts receivable Purchase discounts 27,000 Sales commissions Selling expenses 69,000 Telephone and Internet expense (sales) Accounting and legal services 33,000 Utilities expense (office) Insurance expense (office) 24,000 Miscellaneous office expenses Advertising expense 54,000 Rent revenue Delivery expense 93,000 Casualty loss (before tax) Depreciation expense (office equipment) 48,000 Interest expense Depreciation expense (sales equipment) 36,000 Common stock ($10 par) $284,000 346,000 15,000 79,000 72,000 142,500 83,000 17,000 32,000 8,000 240,000 70,000 176,000 900,000 Spock's effective tax rate on all items is 20%. A physical inventory indicates that the ending Inventory is $686,000. Prepare a condensed 2020 income statement for Spock Corporation. (Round earnings per share to 2 decimal pla SPOCK CORPORATION Income Statement SPOCK CORPORATION Income Statement Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT