Exercise 4-9 Presented below is information related to Sage Corp. for the year 2017 Net sales Cost of goods sold Selling expenses Administrative expenses Dividend revenue Interest revenue $1,373,500 781,300 74,500 48,300 23,000 7,460 Write-off of inventory due to obsolescence Depreciation expense omitted by accident in 2016 Casualty loss Cash dividends declared Retained earnings at December 31, 2016 Effective tax rate of 34% on all items $80,830 44,300 54,200 48,760 968,430 Your answer is partially correct. Try again Prepare a multiple-step income statement for 2017. Assume that 55,630 shares of common stock are outstanding. (Round earnings per share to 2 decimal places, e.g. 1.49.)