he following information is available for Sage Hill, Inc. for the year 2017.

Administrative expense
Officers' salaries		$11,000
Depreciation of office furniture and equipment		8,400
Cost of goods sold		121,520
Rent revenue		2,500
Selling expense
Delivery expense		4,400
Sales commissions		16,970
Depreciation of sales equipment		13,200
Sales revenue		231,000
Income tax		12,370
Interest expense		3,460

Common shares outstanding for 2017 total 23,000 (000 omitted).

Prepare an income statement for Sage Hill Inc. for the year 2017 using the multiple-step form. (Round earnings per share to 2 decimal places, e.g. 1.48.)