Exercise 4-6 The following balances were taken from the books of Concord Corp. on December 31, 2017 $87,050 Interest revenue Accumulated depreciation-equipment $41,050 Cash 52,050 Accumulated depreciation-buildings 29,050 Sales revenue 1,381,050 Notes receivable 156,050 151,050 195,050 Accounts receivable Selling expenses Prepaid insurance 21,050 Accounts payable 171,050 151,050 101,050 Sales returns and allowances Bonds payable 8,050 Allowance for doubtful accounts Administrative and general expenses 98,050 Sales discounts 46,050 Accrued liabilities 33,050 101,050 Interest expense 61,050 Land 201,050 101,050 Equipment Notes payable Loss from earthquake damage Buildings 141,050 151,050 501,050 Cost of goods sold 622,050 Common stock Retained earnings 22,050 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.) CONCORD CORP Income Statement SHOW LIST OF ACCOUNTS