Exercise 4-6 The following balances were taken from the books of Monty Corp. on December 31, 2017 Accumulated depreciation equipment $41,950 52,950 Accumulated depreciation-buildings 29,950 156,950 195,950 171,950 101,950 8,950 Administrative and general expenses 98,950 33,950 61,950 101,950 151,950 501,950 22,950 $87,950 Interest revenue Cash Sales revenue Accounts receivable Prepaid insurance Sales returns and allowances Allowance for doubtful accounts Sales discounts Land Equipment Buildings Cost of goods sold 1,381,950 Notes receivable 151,950 Selling expenses 21,950 Accounts payable 151,950 Bonds payable 46,950 101,950 201,950 141,950 622,950 Accrued liabilities Interest expense Notes payable Loss from earthquake damage Common stock Retained earnings Assume the total effective tax rate on all items is 34% 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.) MONTY CORP