Exercise 4: Multiple Step Income Statement-Dallas Corporation The following account balances were taken from the trial balance of Dallas Corporation as of June 30, 2019. All accounts have normal balances Sales Sales discounts Common Stock Sales Salaries Depreciation Expense, Office furniture Equipment Travel expense - Sales personnel Freight-out (Delivery costs) Depreciation expense, Sales equipment Retained Earnings, July 1, 2018 Utilities Expense- Office building Wage Expense-Office employees Interest Expense Miscellaneous Office Expenses Dividend Revenue Allowance for Doubtful Accounts Cost of Goods Sold $1,678,500 31.150 1,300,000 61,110 7.250 880,360 28,930 21,400 4,980 2,450,000 9,130 136,700 18,990 6,000 38,000 45,000 1,043,845 Additional Information: 1. In March, 2019, the corporation discontinued the operations of its publishing division (a major component of its business). operating loss of S110,000 and its assets were sold at a gain of $890,400. The corporation had a $20,000 loss on the sale of a manufacturing facility (not related to the publishing division). The tax rate which applies to all items is 30%. There were 80,000 shares of common stock outstanding throughout the year. During the current fiscal year, the publishing division had an 2. 3. 4. Instructions: Prepare a condensed [i.e., use function categories for operating expenses] multiple-step income statement for the Dallas Corporation for the year ended June 30, 2019 in proper form. Round financial statement amounts to the nearest dollar; round earnings per share amounts to the nearest cent