Exercise 4-6 The following balances were taken from the books of Pearl Corp. on December 31, 2017. Interest revenue $87,250 Accumulated depreciationequipment $41,250 Cash 52,250 Accumulated depreciationbuildings 29,250 Sales revenue 1,381,250 Notes receivable 156,250 Accounts receivable 151,250 Selling expenses 195,250 Prepaid insurance 21,250 Accounts payable 171,250 Sales returns and allowances 151,250 Bonds payable 101,250 Allowance for doubtful accounts 8,250 Administrative and general expenses 98,250 Sales discounts 46,250 Accrued liabilities 33,250 Land 101,250 Interest expense 61,250 Equipment 201,250 Notes payable 101,250 Buildings 141,250 Loss from earthquake damage 151,250 Cost of goods sold 622,250 Common stock 501,250 Retained earnings 22,250 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.)