Cash II. Presented below are selected ledger accounts of Metro Inc. at December 31, 20x1. 185,000 Retained earnings Merchandise inventory, 1/1/x1 Gross sales 246,000 Accounts payable 510.000 133,300 2,380,000 Insurance expense 24.000 Office equipment 250,000 Advertising expense 54,000 Gross Purchases 790,000 Prepaid insurance 93,000 Depreciation expense of office Sales discounts 45,000 equipment 48,000 Sales salaries Goodwill Common stock ($10 par) Accounts receivable 194,000 Accumulated Depreciation 150,000 97,000 Unearned rent 8,000 900,000 Interest expense 60,000 142,500 Dividend revenue 86,000 Metro's tax rate on all items is 34%. A physical inventory indicates that the ending inventory is $331,000. A pretax $5,000 gain was recognized on the sale of Division Y (a major component of the company). This division had earned a pretax operating income of $7,500 in 20x1. Prepare a multiple-step income statement for the year ending December 31, 20x1. Some of the above accounts are not reported on the income statement. You must report the earnings per share. Ten thousand common shares (10,000 shares) were outstanding throughout the year. No credit for a single-step income statement.