ment CALaRATOR | PRINTER VERSION BACK The accountant of Buffalo Shoe Co. has compiled the following information from the company's records as a basis for an income statement for the year ended December 31, 2017. Rent revenue Interest expense Market appreciation on land above cost Salaries and wages expense (selling) Supplies expense (selling) Income tax Salaries and wages expense (administrative Other administrative expenses Cost of goods sold Net sales Depreciation on plant assets (70% selling, 30% administrative) Cash dividends declared $30,800 19,800 32,800 116,600 19,400 39,200 137,700 53,500 497,800 981,800 66,800 17,800 There were 19,600 shares of common stock outstanding during the year Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.48.) BUFFALO SHOE CO. Net Sales 981800 7