Current Attempt in Progress The following balances were taken from the books of Metlock Corp. on December 31, 2020. Interest revenue $87,450 Accumulated depreciation equipment $41,450 Cash 52,450 Accumulated depreciation-buildings 29,450 Sales revenue 1,381,450 Notes receivable 156,450 Accounts receivable 151,450 Selling expenses 195,450 Prepaid insurance 21,450 Accounts payable 171.450 Sales returns and allowances 151,450 Bonds payable 101,450 Allowance for doubtful accounts 8,450 Administrative and general expenses 98,450 Sales discounts 46,450 Accrued liabilities 33,450 Land 101,450 Interest expense 61,450 Equipment 201,450 Notes payable 101,450 Buildings 141,450 Loss from earthquake damage 151,450 Cost of goods sold 622,450 Common stock 501,450 Retained earnings 22,450 Assume the total effective tax rate on all items is 20%. Prepare a multiple-step income statement; 100,000 shares of common stock were outstanding during the year. (Round earnings per share to 2 decimal places, e.g. 1.48.) METLOCK CORP. Income Statement For the Year Ended December 31, 2020 V $ Per share of common stock: $ List of Accounts Assistance Used Accumulated Depreciation-Equipment Administrative Expenses Bad Debt Expense Casualty loss Cost of Goods Sold Delivery Expense Depreciation Expense Entertainment Expense Equipment Gain on Sale of Plant Income Tax Expense Interest Expense Interest Revenue Loss from Earthquake Damage Maintenance and Repairs Expense Miscellaneous Selling Expenses Mortgage Payable Net Sales Office Expense Other Administrative Expenses Property Tax Expense Rent Revenue Salaries and Wages Expense Salaries and Wages Payable Sales Commission Sales Discounts Sales Returns and Allowances Sales Revenue Selling Expenses Telephone and Internet Expense Travel Expense