he following are selected ledger accounts of Spock Corporation at December 31, 2014.

Cash		$188,640		Salaries and wages expense (sales)		$287,640
Inventory		538,640		Salaries and wages expense (office)		349,640
Sales revenue		4,278,640		Purchase returns		18,640
Unearned sales revenue		120,640		Sales returns and allowances		82,640
Purchases		2,789,640		Freight-in		75,640
Sales discounts		37,640		Accounts receivable		146,140
Purchase discounts		30,640		Sales commissions		86,640
Selling expenses		72,640		Telephone and Internet expense (sales)		20,640
Accounting and legal services		36,640		Utilities expense (office)		35,640
Insurance expense (office)		27,640		Miscellaneous office expenses		11,640
Advertising expense		57,640		Rent revenue		243,640
Delivery expense		96,640		Extraordinary loss (before tax)		73,640
Depreciation expense (office equipment)		51,640		Interest expense		179,640
Depreciation expense (sales equipment)		39,640		Common stock ($10 par)		903,640

Spocks effective tax rate on all items is 30%. A physical inventory indicates that the ending inventory is $689,640. Prepare a condensed 2014 income statement for Spock Corporation. (Round earnings per share to 2 decimal places, e.g. 1.48.)