Exercise 4-07 a-b (Part Level Submission) The accountant of Oriole Shoe Co. has compiled the following information from the company's records as a basis for an income statement for the year ended December 31, 2020. Rent revenue $31,900 Interest expense 20,900 Market appreciation on land above cost 33,900 Salaries and wages expense (selling) 117,700 Supplies expense (selling) Income tax 20,500 26,000 Salaries and wages expense (administrative) 138,800 Other administrative expenses 54,600 Cost of goods sold 498,900 Net sales 982,900 Depreciation on plant assets (70% selling, 30% administrative) 67,900 Cash dividends declared 18,900 There were 20,000 shares of common stock outstanding during the year.