Exercise 4-06 The following balances were taken from the books of Waterway Corp. on December 31, 2020. Interest revenue $87,900 Accumulated depreciation-equipment Accumulated depreciation-buildings $41,900 Cash 52,900 29,900 Sales revenue 1,381,900 Notes receivable 156,900 Accounts receivable 151,900 Selling expenses Accounts payable Bonds payable 195,900 Prepaid insurance 21,900 171,900 Sales returns and allowances 151,900 101,900 Allowance for doubtful accounts 8,900 Administrative and general expenses 98,900 Sales discounts 46,900 Accrued liabilities 33,900 Land 101,900 Interest expense 61,900 Equipment 201,900 Notes payable 101,900 Buildings 141,900 Loss from earthquake damage 151,900 Cost of goods sold 622,900 Common stock 501,900 Retained earnings 22,900 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.) WATERWAY CORP. Income Statement WATERWAY CORP. Income Statement 4A Per share of common stock: Open Show Work Click if you would like to Show Work for this