Exercise 4-13 The following balances were taken from the books of Pina Colada Limited on December 31, 2020: Interest income Cash Sales revenue Accounts receivable Prepaid insurance Sales returns and allowances Allowance for doubtful accounts Sales discounts $87,000 52,000 1,390,000 130,000 17,000 126,000 6,000 44,000 100,000 200,000 150,000 626,000 Accumulated depreciation-equipment $34,000 Accumulated depreciation-buildings 24,000 Notes receivable 136,000 Selling expenses 193,000 Accounts payable 168,000 Bonds payable 101,000 Administrative expenses 92,000 Unearned revenue 21,000 Interest expense 42,000 Notes payable 100,000 Loss from storm damage 132,000 Depreciation expense 42,000 Land Equipment Building Cost of goods sold Assume the total effective tax rate on all items is 30%. Prepare a multiple-step income statement showing expenses by function. Assume that 100,000 common shares were outstanding during the year. Include calculation of EPS. Pina Colada Limited follows ASPE but decides to disclose EPS on its income statement.(Round per share answer to 2 decimal places, e.g. 52.74.) Pina Colada Limited TCLLL